This article was originally published on TipRanks.com
Moderna Inc. (NASDAQ: MRNA), one of the leading Biotech Stocks, has disclosed that the Swiss Federal Government has exercised its option to purchase an additional seven million doses of the company’s booster vaccine. The vaccines will be delivered in the second half of 2022.
The Swiss government previously agreed to buy seven million doses of the booster vaccine for delivery in 2022, and these additional doses bring Switzerland’s total order thus far to 27.5 million doses.
Notably, Swissmedic has approved SPIKEVAX (elasomeran mRNA vaccine) for active immunization to prevent COVID-19 in people aged 12 years and older.
The CEO of Moderna, Stephane Bancel, said, “We appreciate the collaboration with the Swiss Federal Government, and their continued support demonstrated by their increased supply agreement. We are encouraged by the initial data showing that the currently authorized Moderna COVID-19 booster can boost neutralizing antibody levels against the Omicron variant 37-fold higher than pre-boost levels. We will continue to make as many updates to our COVID-19 vaccine as necessary to control the pandemic.”
Wall Street’s Take
Recently, Goldman Sachs analyst Salveen Richter reiterated a Buy rating and a price target of $395 (60% upside potential) on Moderna.
Overall, the stock has a Hold consensus rating based on 6 Buys, 6 Holds, and 3 Sells. The average Moderna price target of $311.83 implies 26.31% upside potential from current levels. Shares have gained 5.3% over the past six months.
According to the new TipRanks Risk Factors tool, Moderna stock is at risk mainly from three factors: Tech and Innovation, Finance and Corporate, and Legal and Regulatory, which contribute 29%, 22%, and 19%, respectively, to the total 98 risks identified for the stock.
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