Moderna Surges 177% After mRNA Cancer Vaccine Trial Results

Moderna's stock surged 177% on August 19 after releasing data from its Phase-3 trial for an mRNA cancer vaccine. The study, INTerpath-001, tested intismeran autogene (V940) alongside Merck's checkpoint inhibitor Keytruda in patients with resected stage IIB-IV melanoma.

The results showed a positive late-stage outcome for the first time ever for an mRNA cancer vaccine. The trial hit its primary endpoint of recurrence-free survival and a key secondary endpoint around metastasis-free survival.

The success is not solely Moderna's, as Merck also saw its shares move on the news due to their partnership in the combination therapy. Over 1,100 patients were enrolled in the trial.

Analysts are divided on the stock's value, with Bank of America upgrading it from 'Underperform' to 'Neutral', lifting its price target from $40 to $170. Jefferies also set a $170 target and predicted global peak sales of around $54 billion for the personalized oncology platform.

However, Goldman Sachs kept its 'Neutral' rating with a lower price target of $120, while Morgan Stanley held at 'Equal-weight' with an $89 target, significantly below current market value. The gap between optimistic and cautious views is vast.