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Wednesday, April 29, 2020

Moderna +1.8% as BMO sets Street-high target

Moderna (NASDAQ:MRNA) is up 1.8% postmarket after getting a Street-high price target from BMO Capital Markets, which started the stock with an Outperform rating.
That’s based on advancing its coronavirus vaccine candidate.
The firm’s set a price target of $83, implying 79% upside.
The success of the candidate isn’t certain, of course, but BMO sees a high probability that Phase 1 results will show the generation of neutralizing antibody titers when reported in June – and a meaningful number of volunteers generating antibodies is a near-term value driver.
Government funding and promising results from later-stage candidates help validate the potential, analyst George Farmer says.
https://seekingalpha.com/news/3566580-modernaplus-1_8-bmo-sets-street-high-target

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