All eyes were on the biotech Moderna (NASDAQ: MRNA) in 2020. It wasn’t quite a popular name in the pharmaceutical space, as it has no approved products on the market yet. But its sudden entry in the COVID-19 vaccine competition grabbed a lot of attention, and it became the second company to win approval in a race with dozens of players. No wonder its stock has surged 488% so far this year, while the S&P 500 has gained 16%.
On Dec. 11, Pfizer (NYSE: PFE) and its German biotech partner BioNTech (NASDAQ: BNTX) became the first to receive an Emergency Use Authorization (EUA) from the Food and Drug Administration for a coronavirus vaccine candidate, BNT162b2. Moderna became the second company to receive the EUA for its vaccine, mRNA-1273, on Dec. 18. The former vaccine displayed 95% efficacy while the latter showed 94.1% efficacy in the still-ongoing phase 3 trials.
So now that Moderna’s vaccine is out and the inoculation process has begun, is the company still a good investment?