Moderna’s COVID-19 Vaccine Approved for British Youth

The Medicines and Healthcare products Regulatory Agency (MHRA) has allowed Moderna, Inc.’s (NASDAQ: MRNA) COVID-19 vaccine (Spikevax) to be used on 6 to 11 year olds in Great Britain (GB). According to the regulatory body, the vaccine met all the standards for necessary safety, quality, and effectiveness. 

The approval followed the recent positive opinion of the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) for Spikevax to be used in children aged 6 to 11 years in the European Union (EU). Previously, Spikevax in adults in GB was approved based on the EU decision. 

The past March, Spikevax was authorized in children aged 6 to 11 years in Northern Ireland.

Official Comments 

In response to the approval, the CEO of MHRA, Dr. June Raine, said, “The vaccine is safe and effective in this age group. We have in place a comprehensive surveillance strategy for monitoring the safety of all UK-approved COVID-19 vaccines and this surveillance includes those aged 6 to 11.” 

It is important to mention that the Spikevax vaccine was already approved for adults aged 18 years and above in last January, and for the age group of 12 to 17 years in August 2021. 

Wall Street’s Take 

Recently, Needham analyst Joseph Stringer maintained a Hold rating on Moderna and did not assign a price target. 

Stringer believes that the company’s shares fully reflect the success of COVID vaccine programs.

The rest of the Street is cautiously optimistic about the stock, with a Moderate Buy consensus rating based on five Buys, seven Holds, and one Sell. The average Moderna price target of $248.40 implies 50.1% upside potential from current levels. Shares have gained 2.21% over the past year. 

News Sentiment  

News Sentiment for Moderna is currently Positive based on 47 articles over the past seven days. 83% of the articles on MRNA have a Bullish sentiment, compared to a sector average of 65%, while 17% are Bearish, compared to a sector average of 35%. 

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