Moderna’s stock surges when Oppenheimer suggests that the developer of the Covid vaccine may release more goods in the next two years
Moderna’s stock surges when Oppenheimer suggests that the developer of the Covid vaccine may release more goods in the next two years.
Tuesday saw a more than 13% increase in Moderna shares after Oppenheimer upgraded the stock to «outperform,» stating that the developer of Covid vaccines might bring five products to market by 2026.
The update comes after a disappointing 2023 for Moderna, whose sole product that is sold commercially is its Covid shot. Since the company’s shares are mostly dependent on its vaccine, they dropped by about 45% last year as the market for Covid products went off a cliff globally.
According to Oppenheimer analyst Hartaj Singh, a number of variables, including vaccine fatigue, might cause the company’s Covid sales to peak in 2024. However, the company anticipates that as knowledge of the disease grows and more money is spent on it, sales of the Covid vaccine will rise in 2025 and beyond.
Singh expressed even greater optimism about Moderna’s pipeline prospects, outlining a few prospective product launches that might increase revenues in 2025 over the course of the following 12 to 18 months.
One such vaccination that tries to shield senior citizens from respiratory syncytial virus—which usually produces mild, cold-like symptoms but can cause more serious cases in elderly people and children—may be approved this year. It is called Moderna’s experimental vaccine.
The Food and Drug Administration is expected to decide on the RSV vaccine in April, according to the firm.
According to Singh, Moderna’s experimental flu shot might also be approved in 2024 or 2025. In a late-stage trial, the business reported in September that its shot elicited a better immune response against four strains of the virus than a flu vaccination that is presently on the market.
According to Singh, Moderna’s experimental flu shot might also be approved in 2024 or 2025. In a late-stage trial, the business reported in September that its shot elicited a better immune response against four strains of the virus than a flu vaccination that is presently on the market.
