Health
Moderna surges 18% on report the stock will join the Nasdaq 100 and as analyst predicts 45% upside – Business Insider
- The Nasdaq on Monday announced that Moderna will be added to its Nasdaq 100 index in July.
- Shares of Moderna surged as much as 18% Monday.
- On Monday, Jefferies initiated coverage of Moderna with a “buy” rating and a price target of $90 on the potential that the pharmaceutical company’s COVID-19 vaccine is approved.
- That represents 45% upside from where shares of Moderna closed on Friday. Jefferies also thinks that if the COVID-19 vaccine is approved, it could generate more than $5 billion in annual sales at its peak.
- Watch Moderna trade live on Markets Insider.
- Read more on Business Insider.
Shares of Moderna surged as much as 19% to $74.45 on Monday on news that it will be added to the Nasdaq 100 and a bullish analyst upgrade.
Monday morning, the Nasdaq announced that Moderna will be added to its Nasdaq 100 index prior to market open July 20. Moderna will replace CoStar Group in the index, according to a press release.
In addition, Jefferies initiated coverage of the pharmaceutical company Monday with a “buy” rating and a $90 price target, representing 45% upside from where the stock closed Friday. Shares of Moderna surged as much as 18% Monday.
The bullish rating hinges on Moderna’s COVID-19 vaccine working and resulting in large government supply contracts, Jefferies equity analyst Michael Yee wrote in a Monday note.
“We think there is a good probability Moderna’s vaccine will work and get at least emergency use authorization in 2021,” Yee wrote. “We think a viable vaccine can generate billions in sales, which we see as reasonable given there would be high demand over the first 1-2 years.”
In the first full year of sales of its potential vaccine, Jefferies’ model shows it could bring in $2 billion worldwide if roughly 50 million people get the vaccine at $50. This could grow to a peak of $5 billion between 2025 and 2026, according to the note.
There is also further upside, according to Yee, if significantly more people get the vaccine and the price is pushed higher. “This can quickly get to big numbers of $10-20B+ in theory,” said Yee.
There are other catalysts that could drive shares of Moderna higher, including publication of the phase 1 details, preliminary data from the phase 2 study of patients in mid-2020, and potential phase 3 prevention data this year or next, or anticipated emergency use authorization or accelerated approval of its COVID-19 vaccine.
Moderna is one of many pharmaceutical companies and biotech firms racing to develop a coronavirus vaccine. The company has a 30,000-person late-stage study set to begin sometime in July.
Markets Insider
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Alberta Health Services (AHS) has confirmed a case of measles in Edmonton, and is advising the public that the individual was out in public while infectious.
Measles is an extremely contagious disease that is spread easily through the air, and can only be prevented through immunization.
AHS says individuals who were in the following locations during the specified dates and times, may have been exposed to measles.
- April 16
- Edmonton International Airport, international arrivals and baggage claim area — between 3:20 p.m. and 6 p.m.
- April 20
- Stollery Children’s Hospital Emergency Department — between 5 a.m. to 3 p.m.
- April 22
- 66th Medical Clinic (13635 66 St NW Edmonton) — between 12:15 p.m. to 3:30 p.m.
- Pharmacy 66 (13637 66 St NW Edmonton) — between 12:15 p.m. to 3:30 p.m.
- April 23
- Stollery Children’s Hospital Emergency Department — between 4:40 a.m. to 9:33 a.m.
AHS says anyone who attended those locations during those times is at risk of developing measles if they’ve not had two documented doses of measles-containing vaccine.
Those who have not had two doses, who are pregnant, under one year of age, or have a weakened immune system are at greatest risk of getting measles and should contact Health Link at 1-877-720-0707.
Symptoms
Symptoms of measles include a fever of 38.3° C or higher, cough, runny nose, and/or red eyes, a red blotchy rash that appears three to seven days after fever starts, beginning behind the ears and on the face and spreading down the body and then to the arms and legs.
If you have any of these symptoms stay home and call Health Link.
In Alberta, measles vaccine is offered, free of charge, through Alberta’s publicly funded immunization program. Children in Alberta typically receive their first dose of measles vaccine at 12 months of age, and their second dose at 18 months of age.
Health
U.S. tightens rules for dairy cows a day after bird flu virus fragments found in pasteurized milk samples – Toronto Star
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Infected cows were already prohibited from being transported out of state, but that was based on the physical characteristics of the milk, which looks curdled when a cow is infected, or a cow has decreased lactation or low appetite, both symptoms of infection.
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