Moderna’s shares reached a 52‑week high of $176.75, trading at $176.21, giving the company a market capitalization of about $70.4 billion. The price is within 1% of its yearly peak and has risen roughly 422% year‑to‑date, with a one‑year gain of about 556% (total return 510% according to InvestingPro).
The rally is tied to Moderna’s progress in biotechnology, especially its COVID‑19 vaccine work and a collaboration with Merck on an intismeran platform that showed improved recurrence‑free survival in melanoma patients. The company also announced a $2 billion convertible notes offering aimed at qualified institutional buyers.
Analyst reaction has been mixed. Rothschild Redburn cut the rating to Sell, citing valuation concerns despite positive trial data. Argus raised the rating to Buy and set a $180 price target, while Wolfe Research moved the stock to Peerperform after the Merck trial results. Separately, Morgan Stanley upgraded Merck to Overweight, pointing to its drug pipeline and capital allocation.
InvestingPro notes that Moderna’s shares tend to trade with high volatility, that analysts do not expect profitability this year, and that its fair‑value model suggests the stock may be overvalued at current levels.
