Moderna’s COVID-19 Vaccine Is Making Good Progress but Valuation Is Too High, Says J.P. Morgan

Moderna (MRNA) is undoubtedly one of 2020’s success stories. Its rise has rested on the hope it can be the one to solve the COVID-19 conundrum and bring to market the desperately needed COVID-19 vaccine.Although several questions regarding its business practices – unrelated to its vaccine candidate’s progress – have come to the fore recently (including how execs are possibly profiteering off the stock’s rise and an unsuccessful attempt to invalidate another company’s patent), what concerns J.P. Morgan analyst Cory Kasimov at this point, is its fast accumulation of share gains.“Bigger picture,” said the 5-star analyst, “We remain …read more

Source:: Yahoo Finance

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