Will Moderna Stock Hit $200 in 2021?
Moderna (NASDAQ: MRNA) has been one of the leaders in the race to develop a coronavirus vaccine, and as a result, its shares have soared by more than 600% this year. In March, the clinical-stage biotech became the first to begin human trials of a COVID-19 vaccine candidate. That candidate, mRNA-1273, moved smoothly and swiftly through clinical studies, and this week, an FDA advisory panel recommended that it receive emergency use authorization.
Ahead of the panel's meeting, Moderna stock stumbled. As of 10:30 a.m. EST Friday, it was down by more than 14% for the week to around $138. The logical questions now are: Is FDA authorization of mRNA-1273 priced in at the current level? Or can Moderna surpass Wall Street's expectations and reach $200 in 2021?
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Source Fool.com
