Moderna Is Up More Than 70% in a Month After a 9-0 FDA Vote. Wall Street's Average Price Target Says It Should Fall 44%. What Gives?
When a stock and the analysts covering it disagree this sharply, one of them is about to be wrong.
Overview
Moderna (NASDAQ: MRNA) stock jumped about 10% on Thursday to $79.76 -- a fresh high for the year and the latest leg of a run that has carried shares up more than 70% in a month.
The catalyst? In June, an FDA advisory panel voted 9-0 that the benefits of the company's mRNA flu vaccine outweigh its risks, with a final approval decision expected by Aug. 5. Yet the average analyst price target still sits at around $45.
Details
So what gives? When the market and the analysts covering a growth stock disagree this sharply, they are usually valuing very different things.
Source
Originally published at www.fool.com.
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