Business
Is Moderna stock a hold?
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
A recent downgrade from buy to hold from a Wall Street analyst has Moderna (NASDAQ: MRNA) stock under pressure. Needham analyst Alan Carr has removed his $110 price target on the stock, citing valuation concerns.
Moderna’s market cap has swelled 885% this year to around $67 billion at recent prices. Despite coming under pressure recently, this is still one of the best performing large-cap healthcare stocks of 2020.
Following a meeting on 17 December with the Food and Drug Administration’s independent advisory committee, Moderna’s coronavirus vaccine candidate MRNA-1273 will probably become the second vaccine to earn an…
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