In a major win for Moderna (NASDAQ:MRNA), the company announced that its next-generation COVID-19 vaccine mRNA-1283 had successfully met the primary endpoints of its Phase 3 clinical trial. The biotechnology company stated that the vaccine exhibited a stronger immune response against COVID-19 when compared to mRNA-1273.222, its licensed COVID-19 vaccine.
Moderna’s NextCOVE Phase 3 pivotal trial is a randomized, observer-blind, active-controlled study. This trial enrolled approximately 11,400 individuals aged 12 years and older in the U.S., United Kingdom, and Canada. The Phase-3 trial for mRNA-1283 indicated a heightened immune response against the Omicron and original SARS-CoV-2 strains, particularly in patients over the age of 65 years.
What is the Future of MRNA Stock?
Analysts remain cautiously optimistic about MRNA stock with a Moderate Buy consensus rating based on eight Buys, six Holds, and two Sells. Over the past year, MRNA stock has declined by more than 20%, and the average MRNA price target of $129.27 implies an upside potential of 17.6% at current levels.
