Month: May 2020

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Moderna Vaccine ‘Hits the Mark’ as Street Sees a Blockbuster

May 18, 2020 admin Comments Off on Moderna Vaccine ‘Hits the Mark’ as Street Sees a Blockbuster

(Bloomberg) — Moderna Inc. got a new Wall Street-high price target from Goldman Sachs as its shares traded at a record after the biotech company revealed positive early results from its experimental vaccine for Covid-19.An initial look at mRNA-1273, as the inoculation is known, “hits the mark,” analyst Salveen Richter said, raising her price target to $105 from $63, or 27% above the prior Street high of $83. Richter rates Moderna a buy. Piper Sandler analysts soon followed raising their price target to $102 from $57 saying Moderna could have “potential blockbuster vaccine sales next year.”The Nasdaq Biotechnology Index rose …read more […]

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Harvard’s Reinhart and Rogoff Say This Time Really Is Different

May 18, 2020 admin Comments Off on Harvard’s Reinhart and Rogoff Say This Time Really Is Different

(Bloomberg Markets) — When Carmen Reinhart and Kenneth Rogoff published their heavyweight history of financial crises in late 2009, the title was ironic. This Time Is Different: Eight Centuries of Financial Folly reminded readers that the catastrophic 2008-09 credit crisis was far from unique. The authors became the go-to experts on the history of government defaults, recessions, bank runs, currency sell-offs, and inflationary spikes. Everything seemed to be part of a predictable pattern.And yet a little more than a decade later, we’re experiencing what appears to be a one-of-a-kind crisis. The Covid-19 pandemic has catapulted the world into its deepest …read more […]

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Moderna Spikes 21% Amid “Positive” Early-Stage Covid-19 Vaccine Data

May 18, 2020 admin Comments Off on Moderna Spikes 21% Amid “Positive” Early-Stage Covid-19 Vaccine Data

Shares in Moderna Inc. (MRNA) shot up 21% after the biotech company reported “positive” interim clinical data for its experimental coronavirus vaccine.The stock soared 21% to $80.47 in early morning U.S. trading. The clinical stage biotech company said that the Phase 1 study of its novel coronavirus vaccine candidate (mRNA-1273) produced antibodies that would be able to “neutralize” the virus in patients. In addition, different doses of the vaccine given to patients resulted in an increase in immunogenicity, while also triggering an immune response in the body.“These interim Phase 1 data, while early, demonstrate that vaccination with mRNA-1273 elicits an …read more […]