Moderna will surge another 60% on the value of its potential coronavirus vaccine, according to one Wall Street firm
"We believe these data demonstrate clean safety and robust immunogenicity of the 100μg mRNA-1273 dose, supporting the planned Phase III start on July 27," Piper Sandler analysts led by Edward Tenthoff wrote in a Wednesday note.
Piper Sandler increased its target price for Moderna following the positive Phase 1 data and ahead of the Phase 3 trial set to start later this month. The firm anticipates that"top-line" data from the Phase 3 trial could be reported in late 2020, according to the note.BlackRock's bond chief who oversees $2.
In addition, Piper Sandler estimated that a coronavirus vaccine could generate revenues between $12.5 billion and $25 billion depending on the price per dose. Moderna and Lonza, another biotech firm, are ramping capacity in order to produce roughly 250 million vaccines per year, Tenthoff wrote. Assuming a price of $75 per vaccine, that would equate $18.75 billion in revenue, according to Piper Sandler.
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