|Bid||917,000.00 x 0|
|Ask||920,000.00 x 0|
|Day's Range||915,000.00 - 926,000.00|
|52 Week Range||624,000.00 - 1,047,000.00|
|Beta (5Y Monthly)||0.80|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Moderna Inc (NASDAQ: MRNA) has inked a deal with South Korean CDMO Samsung Biologics for fill-finish duties for mRNA-1273, Moderna’s COVID-19 vaccine. The company announced Friday that its vaccine was approved by the Japanese and South Korean governments. Samsung’s production line in Incheon will support the production of the COVID-19 vaccine, good for distribution at the start of Q3 of 2021. South Korea has secured 40 million doses of the Moderna shots. Moderna also signed two Memoranda of Understanding (MoU) with the government of South Korea to explore potential areas of collaboration for the research and development of mRNA vaccines and local manufacturing opportunities in the country. Price Action: MRNA shares are up 1.55% at $163.95 during the premarket session on the last check Monday. See more from BenzingaClick here for options trades from BenzingaPfizer Hits Deadlock With India Over Vaccine Indemnity Issue: ReutersJapan Approves AstraZeneca's COVID Vaccine, But Puts Use on Hold Amid Blood Clot Concern© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares of Moderna Inc. (MRNA) declined 2.7% to close at $161.45 on May 21 after the biotech company disclosed an alliance with the government of South Korea and a separate manufacturing and supply agreement with Samsung Biologics. Moderna has signed 3 MOUs with different agencies in South Korea to conduct scientific research on mRNA vaccines and evaluate local manufacturing opportunities. Moderna also revealed that it has signed a manufacturing, services, and supply agreement with Samsung Biologics in South Korea. Samsung Biologics will be responsible for extensive, commercial fill-finish manufacturing for COVID-19 Vaccine to support the production of hundreds of millions of doses of Moderna’s COVID-19 vaccine. Moderna plans to start the supply in markets outside of the U.S. in the third quarter of 2021. (See Moderna stock analysis on TipRanks) Moderna’s CEO Stéphane Bancel commented, “We thank the South Korean government and we look forward to exploring this collaboration to bring mRNA vaccines that may help address areas of unmet need.” He added, “We will continue to explore options for establishing potential local manufacturing opportunities in South Korea.” Moderna’s application for Conditional Marketing Authorization for Moderna’s COVID-19 vaccine for use in adults aged 18 years and older was also approved by the Ministry of Food and Drug Safety of South Korea (MFDS). With the deals, South Korea can secure 40 million doses of Moderna’s COVID-19 Vaccine. On May 21, Piper Sandler analyst Edward Tenthoff reiterated a Buy rating and a price target of $231 (43.1% upside potential) on the stock. Tenthoff believes that the approval of mRNA-1273 by the Japanese and South Korean governments will spur additional growth for the vaccine. He expects mRNA-1273 revenues of $13.07B and $21.25B in 2021 and 2022, respectively. Overall, the stock has a Moderate Buy consensus rating based on 6 Buys, 4 Holds, and 2 Sells. The average analyst price target of $174.18 implies 7.9% upside potential to current levels. Shares have jumped 180% over the past year. TipRanks data shows that financial blogger opinions are 84% Bullish on Moderna, compared to a sector average of 69%. Related News: Cisco’s Q4 Earnings Outlook Miss Estimates After Q3 Beat; Shares Drop After-Hours Shoe Carnival Posts Quarterly Beat As Sales Improve, Q2 Revenue Outlook Disappoints Lennox Bumps Up Quarterly Dividend By 19% More recent articles from Smarter Analyst: Foot Locker Posts Upbeat Q1 Results; Shares Pop 2% Maxeon Solar Posts Q1 Loss, Revenues Down; Shares Plunge 10% Trinseo to Sell Synthetic Rubber Business to Synthos Deere Delivers Strong Q2 Results, Street Says Buy
Moderna Inc and Novavax Inc entered into a deal with the South Korean government to manufacture their COVID-19 vaccines, as the country has been under pressure to secure more and faster deliveries of U.S.-made vaccines. Saturday's agreements with the U.S. drugmakers came a day after U.S. President Joe Biden said that he and South Korean President Moon Jae-in had agreed on a comprehensive partnership on COVID-19 vaccines and that the United States would provide vaccinations for 550,000 South Korean soldiers. Moderna, whose shot was granted approval in South Korea on Friday, said on Saturday its vaccine will be manufactured by Samsung Biologics Co and that it intends to supply these vaccines to markets outside the United States starting in the third quarter.