Connect with us

International

Moderna Is Firing on All Cylinders; Analyst Boosts Price Target

At the outset of 2020, Moderna (MRNA) was hardly a household name. But with 2021 in plain sight, the whole world is keeping a close watch on the company’s latest
Read More…
The post Moderna Is Firing on All Cylinders; Analyst Boosts Price Target appeare

Published

on

At the outset of 2020, Moderna (MRNA) was hardly a household name. But with 2021 in plain sight, the whole world is keeping a close watch on the company’s latest developments.

More pointedly, Moderna has firmly planted itself in the general public’s psyche due to its Covid-19 vaccine candidate mRNA-1273. 

The company reported interim data from a late stage study, in which mRNA-1273 displayed a 94.1% success rate in preventing the coronavirus (100% against severe cases), making the granting of an EUA (emergency use approval) from the FDA increasingly likely.

In fact, Brookline Capital analyst Leah Rush Cann believes approval could be sealed by mid-December.

After assessing the Moderna model following the vaccine’s positive results, the 5-star analyst noted, “Moderna’s probability of success should be meaningfully increased; therefore, we are lowering our discount and increasing our target price to reflect these changes.”

The change is a significant uptick – up from $95 to $164. Unsurprisingly, the analyst’s rating for MRNA stays a Buy. (To watch Cann’s track record, click here)

The bullish case for Moderna currently resides with mRNA-1273’s worldwide commercial opportunity. Moderna anticipates manufacturing between 500 million to 1 billion doses next year, and Cann expects the vaccine to account for 99.2% of the company’s 2021 revenue. The US government has already put in an order for 100 million doses of mRNA-1273, with an option to purchase another 400 million. The European Union has ordered 80 million doses and another 56 million are earmarked for Canada.

However, Cann also points out the Covid-19 vaccine is just one of several assets in Moderna’s potentially lucrative pipeline.

“mRNA-1273 is one of 17 experimental clinical compounds Moderna has in development,” Cann said. “The potential products in clinical development have the potential to have combined estimated sales of $77.1 billion by 2030. In addition, Moderna has seven preclinical programs that have the potential for combined 2030 sales of $8.4 billion.”

Most of Cann’s colleagues also look favorably upon Moderna’s prospects, though not all are convinced. Based on 8 Buys, 4 holds and 2 Sells, the stock has a Moderate Buy consensus rating. However, shares have gained 680% year-to-date, and trading at near all-time high of $152.74. The analysts evidently feel the stock has surged enough for now; The $111.46 average price target suggests the share price will drop by 27% over the next 12 months. (See MRNA stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The post Moderna Is Firing on All Cylinders; Analyst Boosts Price Target appeared first on TipRanks Financial Blog.

Read More

Continue Reading

International

Rare metals await judgement from US Federal Reserve

On Monday’s trading session, however, the silver market experienced a small fallback as the 50-day EMA helped the market gravitate towards the $22.50…

Published

on

On Monday’s trading session, however, the silver market experienced a small fallback as the 50-day EMA helped the market gravitate towards the $22.50 level. The market will be under constant observation to determine if it can hold a support level.

On the Multi Commodity Exchange (MCX), India, gold prices continue to fall; analysts suspect the Navaratri festival has caused this sudden drop, particularly in local Indian areas. As of Monday, gold prices on the MCX have fallen 0.22%, with an ounce of gold weighing in at $1917.10, while silver prices have fallen 0.43% to $22.66 despite seeing a continuous rise in the first two weeks of October.


Don’t miss out the latest news, subscribe to LeapRate’s newsletter


As the week progresses, all eyes will be fixed on the US Federal Reserve as the Federal Reserve Chair Jerome Powell prepares for his decisive speech on inflation rates and interest hikes. With the minor and main support levels of these rare metals at 20.66 and 19.90, respectively, there is room for potential decline; however, all hangs in the balance until the Fed releases inflation data.

The post Rare metals await judgement from US Federal Reserve appeared first on LeapRate.

Read More

Continue Reading

International

Shell shares after new CEO’s focus on oil and gas

Experts believe that the focus of the outfit’s new chief executive officer (CEO), Wael Sawan, on key oil and gas dealings also enticed investor interest….

Published

on

Experts believe that the focus of the outfit’s new chief executive officer (CEO), Wael Sawan, on key oil and gas dealings also enticed investor interest. During Monday’s trading, Shell’s shares climbed to 2,763 pence in London at a stage.

This share price recovery comes after multiple strategic turning points. During the pandemic, oil and gas prices plummeted. Ben van Beurden, the Shell CEO at that time, reduced the company’s dividend by two-thirds and committed to cleaner energy, pledging to achieve net-zero greenhouse gas emissions by 2050.

After taking the wheel, Sawan stuck to this green commitment while channelling greater proportions of investment into oil and gas. Analysts feel he is trying to gain investors through higher returns and an unwavering focus on financial performance and strategy.


Don’t miss out the latest news, subscribe to LeapRate’s newsletter


Higher commodity prices, especially that of natural gas in Europe, gave Shell shares a helping hand. In a Bloomberg report, analyst Allen Good confirmed the impact of this new strategy and suggested that the strategic changes announced earlier this year likely attract more investors.

He also highlighted the weaker pound and euro performance against the dollar as a driver for this company’s market performance. On Friday, Shell ended off the week at 2,722 pence per share.

The post Shell shares after new CEO’s focus on oil and gas appeared first on LeapRate.

Read More

Continue Reading

International

UK property prices rising at a snail’s pace

Market specialists attributed the phenomenon to the effect of higher interest rates. According to Rightmove data, house prices fell by 0.8% and agreed…

Published

on

Market specialists attributed the phenomenon to the effect of higher interest rates. According to Rightmove data, house prices fell by 0.8% and agreed house sales declined by 17% during the 12 months leading up to October.


Don’t miss out the latest news, subscribe to LeapRate’s newsletter


In an attempt to bring inflation under control, the Bank of England raised interest rates 14 times in a row. During its September interest meeting, the institution kept the rate at 5.25%. This is, however, still the highest the interest has been since the 2008 catastrophe.

The situation also impacts renters, who face higher-priced leases as landlords battle to keep up with their mortgage payments. Other data shows that the average rent in Great Britain rose to £1,325 per month from £1,186 according to year-on-year analyses. Rightmove’s property expert, Tim Bannister, said:

Some sellers are pricing more competitively, but estate agents are reporting that others still need to adjust their expectations on the price they’re likely to achieve in this lower-activity market, where six in ten homes are now selling. In the busy post-pandemic market, we were seeing eight in ten sold.

The Guardian, citing a Hamptons analysis on UK and the Bank of England data, shows that landlords pay 40% for mortgage interest as of August 2022. The company also predicted that interest costs could escalate to approximately £20bn as fixed-interest periods come to an end.

The post UK property prices rising at a snail’s pace appeared first on LeapRate.

Read More

Continue Reading

Trending