Moderna, Inc. (MRNA) experienced a significant surge of 5.03% during intraday trading on Monday, as the stock price climbed sharply following a series of positive analyst actions.
The rally was fueled by multiple investment firms raising their price targets for the biotech company. UBS increased its target to $45 from $36 while maintaining a Neutral rating, RBC Capital raised its target to $38 from $35 with a Sector Perform rating, and Evercore ISI significantly boosted its target to $50 from $35 while keeping an In Line rating on the shares.
Additional analyst activity included Piper Sandler reiterating a Buy rating with a $69 price target and Barclays maintaining a Hold rating with a $48 target. These coordinated analyst actions suggesting improved valuation expectations contributed to heightened investor optimism and buying activity in Moderna shares.