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CureVac inventory has surged since reporting promising mRNA trial information on Jan. 6.
Jeroen Jumelet/ANP/AFP through Getty Images
CureVac
is able to compete within the massive leagues with its vaccines, in response to a UBS analyst who says the hovering inventory has extra room to rise.
UBS analyst Eliana Merle upgraded the shares (ticker: CVAC) to Buy from Neutral and raised her 12-month goal for the shares worth to $18 from $8 on Thursday. Merle listed latest scientific trial information and the biopharmaceutical firm’s capability to realize market share as causes for the improve.
CureVac
shares jumped 9.6% Thursday to $10.39.
On Jan. 6, CureVac reported that preliminary information from Phase 1 trials of its Covid-19 and flu vaccines “provide strong evidence of technology for CureVac’s mRNA platform.” The inventory shot up on the information, and has now surged 74% to this point this 12 months.
“This is a major inflection point for the story, and suggests potentially competitive mRNA platform relative to mRNA peers,” Merle wrote in a analysis notice Thursday. She famous that CureVac has a market capitalization of round $2 billion, whereas
Moderna
(MRNA), a competitor, has a market cap of near $77 billion—a niche she mentioned “creates an underappreciated opportunity.”
She additionally mentioned that whereas the inventory is up about 50% because the trial information had been disclosed on Jan. 6, she believes the “shares [will] trade higher with more data/trial starts and as awareness builds for this under-the-radar mRNA story.”
Merle isn’t alone in her optimism. JMP analyst Roy Buchanan maintained his Outperform ranking on the inventory after the trial information got here out on Jan. 6.
“While there are many questions remaining regarding the ‘final’ commercial form of mRNA vaccines for 2023 and beyond, the data today support our view that the company’s mRNA technology can be competitive in a growing space,” Buchanan wrote in a analysis notice. He has a goal of $34 for the inventory worth.
Write to Angela Palumbo at [email protected]
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