Moderna (NASDAQ: MRNA) has been one of the fastest-moving organizations in the global competition to develop a vaccine for the SARS-CoV-2 coronavirus. It's currently gearing up for a phase 3 clinical trial of its investigational vaccine, mRNA-1273. The study, which it will conduct in collaboration with the National Institutes of Health, will enroll 30,000 participants in the U.S., each of whom will receive two doses of the vaccine, 28 days apart. And phase 3 is where the rubber meets the road. While its earlier trials were only testing for safety, side effects, and whether mRNA-1273 caused the subjects to develop the desired antibodies, in this trial the primary endpoint will be "the prevention of symptomatic COVID-19 disease."
In other words, does it work, and if so, how well?
Due to the speed of its efforts to develop a vaccine for COVID-19, Moderna's stock has soared by more than 220% since the year started. And what's more, several analysts have asserted that it has significant room to keep climbing. Last month, Goldman Sachs analyst Salveen Richter gave the stock a buy rating and a $105 price target, about 66.7% above the (roughly) $63 where it's currently trading. Analysts at Piper Sandler assigned the stock a $102 price target -- 61.9% above its current levels. With all this in mind, should you buy Moderna stock today?
Source Fool.com