Shares of Moderna (MRNA) are surging in today’s trading after Oracle (ORCL) Chairman Larry Ellison talked about the potential for artificial intelligence to develop personalized cancer vaccines during a White House press conference. Ellison explained that AI can be used to analyze blood tests and detect tiny tumor fragments, which could lead to early cancer detection. This technology can also be used to develop individualized cancer vaccines.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Moderna has already partnered with OpenAI to use AI for tasks like developing drugs. Indeed, Moderna’s personalized cancer vaccine, mRNA-4157, which is being worked on with Merck (MRK), is currently in its late-stage development phase. Furthermore, Ellison highlighted how much faster and more effective AI is at developing personalized cancer vaccines. He explained that once a cancer tumor is gene-sequenced, a vaccine can be designed and produced robotically using AI within 48 hours.
There is no doubt that this technology has the potential to completely change the way cancer is treated. As a result, several AI-focused drug developers, including AbCellera Biologics (ABCL) and Recursion Pharmaceuticals (RXRX), saw their stock prices rise in response to Ellison’s comments.
What Is the Prediction for MRNA Stock?
Turning to Wall Street, analysts have a Hold consensus rating on MRNA stock based on four Buys, 11 Holds, and four Sells assigned in the past three months, as indicated by the graphic below. After a 62% decline in its share price over the past year, the average MRNA price target of $59 per share implies 52.1% upside potential.
