Stock Track | Moderna Soars 5.98% as Bernstein Raises Target Price and Cancer Therapy Shows Promising Results

Stock Track01-22 09:02

Moderna, Inc. (MRNA) saw its stock price surge by 5.98% over a 24-hour period, driven by positive developments in both analyst sentiment and clinical progress.

The upward movement was fueled by Bernstein's decision to raise Moderna's target price to $35 from $25, reflecting increased confidence in the company's growth trajectory. Additionally, Moderna and Merck announced promising long-term results from their Phase 2b cancer therapy study, which demonstrated a 49% reduction in the risk of recurrence or death in high-risk melanoma patients. These combined factors significantly boosted investor optimism, contributing to the stock's strong performance.

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