Why Moderna Stock Rose Today
Shares of Moderna (NASDAQ: MRNA) climbed 2.9% on Tuesday after fellow COVID-19 vaccine maker Pfizer (NYSE: PFE) boosted its full-year sales and profit forecast.
Pfizer raised the low end of its revenue guidance range to $99.5 billion from $98 billion. The pharmaceutical giant also lifted its adjusted earnings per share target range to between $6.30 and $6.45, up from $6.40 to $6.50.
Most encouraging to Moderna's shareholders was Pfizer's increased sales forecast for its COVID-19 vaccine, Comirnaty. Pfizer now sees sales of the drug reaching a staggering $34 billion in 2022. That's $2 billion higher than it previously projected.
Source Fool.com
