Moderna has had a banner year in 2020. Thanks to the biotech’s COVID-19 vaccine candidate mRNA-1273, the company’s shares have gapped up by an eye-catching 400% this year.
The biotech’s red-hot growth streak, though, may be nearing an end. BMO Capital analyst George Farmer, for instance, said earlier this week that he believes mRNA-1273’s commercial potential is already priced into the company’s valuation at this point.
Moderna’s COVID-19 opportunity
For a multitude of reasons, Moderna is arguably in the catbird seat when it comes to the COVID-19 vaccine space. First and foremost, the biotech’s COVID-19 vaccine appears well on its way toward garnering multiple accelerated approvals in the U.S., the EU, and numerous other countries. The vaccine, after all, posted an outstanding 94.5% efficacy rate in a large late-stage trial. That’s essentially an unheard of level of effectiveness for a vaccine designed to provide immunity against an infectious disease.
