Key Points
- Moderna’s stock rose 10% on Thursday, hitting its highest level since November 2024. The stock is up 57% in the last month.
- The rally is partly attributed to a favorable patent ruling in Europe and optimism about a cancer vaccine trial.
- The stock price is now well above the average analyst price target.
- Moderna was the S&P 500’s top gainer on Wednesday.
Moderna’s stock is on a tear. The biotech company’s shares jumped 10% on Thursday, marking the fourth straight day of gains and hitting their highest level since November 2024. The stock is now up a massive 57% in just one month, with the price soaring to $54 a share.
It’s not entirely clear what’s behind this sudden surge, but there are a couple of potential factors. One analyst suggested that a recent, favorable patent ruling in Europe could be playing a role.
However, he also cautioned that the European ruling is not as important as the upcoming U.S. patent proceedings, which are scheduled for March 9.
Another reason for the optimism is the high hopes for Moderna’s cancer vaccine trial. While the initial commercial potential for the vaccine is limited, positive trial data would be a major “boost to sentiment”. They could open the door to a whole new line of products for the company.
Whatever the reason, investors are clearly excited about Moderna’s future. The stock’s recent rally has pushed its price well above the average analyst price target of $37.
On Wednesday, Moderna was the top-performing stock in the S&P 500, and Thursday’s big jump shows the momentum is still strong.
