Wolfe Research Just Upgraded Moderna Stock. Here's Why.
On August 25, Moderna's stock continued its upward trend as Wolfe Research upgraded the biotech company. Analyst Alexandria Hammond rated Moderna stock at "Peer Perform" without providing a specific price target. This move comes after recent positive results from a Phase 3 study involving Moderna's personalized cancer vaccine in collaboration with Merck.
The trial demonstrated that the combination of intismeran and Keytruda significantly reduced the risk of melanoma recurrence or spread compared to Keytruda alone. Furthermore, this successful trial provides a clearer regulatory path for Moderna and Merck, further boosting investor confidence.
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