Leading the charge towards development of a COVID-19 vaccine proved very profitable for unprofitable biotech Moderna (MRNA) this year. Despite a 10-year history of never earning money, Moderna stock soared nearly 500% at one point this summer, topping out just short of $95 a share, on hopes that its mRNA-1273 vaccine would be the solution that stops coronavirus in its tracks.But enough is enough, says investment banker SVB Leerink.SVB Leerink analyst Mani Foroohar cited a perfect storm of bad news in explanation for his decision to downgrade Moderna stock from “market perform” to “underperform” — and to cut his price …read more
Source:: Yahoo Finance
