![]() Once a large percentage of the global population is vaccinated (likely by 2022 or 2023) the earnings potential of the Covid vaccine will diminish. There is a lot of competition in the race for a Covid-19 vaccine, and it’s likely that there will be multiple successful candidates from other companies. However, it should be noted that sales of the vaccine will be significantly front-loaded. That’s below the S&P 500 that trades at about 26x projected earnings. (related: How Will The Covid-19 Vaccine Impact Moderna’s EPS?) While Moderna’s stock trades at about $150 per share, its valuation still looks reasonable at about 25x our projected 2020 EPS. We estimate that the vaccine will add roughly $6 to Moderna’s EPS each year over 20. The vaccine is likely to be priced at between $25 to $37 per dose, with two doses required per person. Moderna’s Covid-19 vaccine could emerge as the most sought-after vaccine, particularly in developed markets – considering the high levels of efficacy as well as manageable refrigeration requirements, unlike Pfizer’s candidate which is also highly effective but needs to be stored at ultra-cold temperatures. Is this jump warranted? We think it largely is, but there are some risks as well. The stock has more than doubled over the last month as the company began publishing efficacy data. Investors cheered the news, sending Moderna stock up by about 20% on Monday’s trading. The vaccine was over 94% effective in preventing Covid-19 and 100% effective in preventing severe cases of infection – meaning that no one who received the vaccine developed a serve case of the infection. Moderna (NASDAQ NDAQ: MRNA) published final results from its 30,000-person phase 3 trial of its Covid-19 vaccine and indicated that it would apply for emergency use authorization with the U.S. ![]() The theme is up by about 877% year-to-date versus about 14% for the S&P 500. ![]() There is no gelatin, chicken protein or antibiotics in the mRNA vaccines made by Pfizer/BioNTech and Moderna or in the vector vaccines made by AstraZeneca and Janssen.See our indicative theme of Covid-19 Vaccine stocks – which includes U.S.-listed pharma and biotech companies. Package leaflets for the COVID-19 vaccines In response, the immune system starts producing antibodies.Ī s used for the basic series of COVID-19 vaccinationsĪ s used for the repeat vaccination against COVID-19 vaccinations If the body encounters the SARS-COV-2 virus, the immune system recognises the spike proteins on the virus. After vaccination, the body responds by producing antibodies against the spike protein. It also contains an adjuvant: a substance that intensifies the body’s immune response to the protein. The vaccine contains very small particles of spike protein, which have been produced in a laboratory. The Novavax vaccine is a protein subunit vaccine. ![]() The immune system reacts by producing antibodies, just as it does in response to the mRNA vaccines. The vector vaccine contains an inactivated cold virus (that cannot replicate) with an instruction (code) that tells your cells to make spike proteins. The COVID-19 vaccine made by Janssen is a vector vaccine.The immune system recognises the spike proteins as foreign substances and starts making antibodies. These are the spiky protrusions on the exterior of the coronavirus. ![]() These RNA vaccines contain a protective envelope of lipids (fat) with an instruction (code) that tells your cells to make spike proteins.
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