Key Points:
- Goldman Sachs lifted its price target for Moderna stock to $105 from $63 on Monday after first trials for its coronavirus drug showed “encouraging” results.
- Moderna announced Monday that all 45 volunteers in the trial produced antibodies to protect against COVID-19 infection. Shares jumped as much as 39% on the news.
- The new price target implies a 25% leap from Moderna’s price at 12:25 p.m. ET 5/18.
- Analyst Salveen Richter raised the vaccine’s probability of success to 75% from 70%, and projected phase-two studies will begin this quarter.
- Watch Moderna trade live here.
Read the story on marketsinsider.com
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