On September 1, Moderna, Inc. rose 3.16% in regular trading, trading at $144.385/share, with turnover of $5.46 billion. The stock continued its upward momentum fueled by a wave of Wall Street upgrades following a landmark cancer vaccine milestone.
The core catalyst behind the rally is the successful Phase 3 clinical trial of Moderna's personalized mRNA melanoma cancer vaccine, developed in collaboration with Merck. The INTerpath-001 trial met its primary and secondary endpoints, validating the therapeutic potential of mRNA technology in oncology. Since the data release in mid-August, the stock has rebounded sharply from prior lows.
Multiple institutions have upgraded or raised targets in quick succession. Argus Research upgraded Moderna from Hold to Buy with a $180 price target, becoming the fifth firm to upgrade recently. Barclays raised its target from $48 to $125, while JPMorgan lifted its target from $40 to $77. Despite these upgrades, the consensus rating remains Hold with a mean target of $96.47, and the stock still trades at a discount of over 70% from its all-time high. Meanwhile, BioNTech's recent cancer vaccine clinical failure has further highlighted Moderna's first-mover advantage in the mRNA oncology space.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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