This Stock Is Up More than 560% This Year, but It Could Drop by 38%, According to Wall Street
Have Moderna’s shares risen too much, too fast?
Overview
Strong clinical and regulatory progress has driven Moderna's (NASDAQ:MRNA) shares significantly higher this year. The biotech has gained over 560%, while the S&P 500 has recorded a comparatively modest gain of about 14%. However, several Wall Street analysts consider Moderna's shares overvalued. The company's average price target of $121 (according to Yahoo! Finance) implies a 38% downside from current levels. Is it time to sell Moderna stock?
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Moderna has made at least two significant achievements this year. The first was earning approval for its influenza vaccine, mFLUSIVA, for patients aged 50 and older. True, there are already flu vaccines on the market, but mFLUSIVA could be a better option. Here's why.
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Originally published at www.fool.com.