Shares of vaccine companies such as Moderna (MRNA), Pfizer (PFE) and BioNTech (BNTX), among others, are falling after a Senate panel voted to advance Robert F. Kennedy Jr.’s nomination to lead the U.S. Department of Health and Human Services.
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Moderna’s stock was down as much as 6% after the Senate committee voted 14 to 13 to advance Kennedy in a party-line vote, moving the well-known vaccine skeptic a step closer to taking control of the U.S. health system.
Kennedy, age 71, is arguably the best known vaccine skeptic in America and has repeatedly made false claims linking vaccines to autism and various government conspiracies. Kennedy is also the founder of the nonprofit Children’s Health Defense, the most well-funded anti-vaccine organization in the U.S.
Future Role of Vaccines
If confirmed as U.S. Health Secretary, Kennedy would oversee federal health agencies that regulate vaccines and other prescription drugs. Numerous health experts have raised concerns about Kennedy using his new government powers to spread anti-vaccine misinformation and deter Americans from receiving recommended medications, especially children.
During an industry conference in January, Pfizer CEO Albert Bourla said Kennedy’s anti-vaccine rhetoric is in “complete contradiction” with what the company, regulators, and the medical and scientific communities believe and have studied for decades. Moderna was recently awarded a government contract under the previous Biden administration to fast-track a vaccine against bird flu.
MRNA stock is now down 65% in the last 12 months.
Is MRNA Stock a Buy?
The stock of Moderna has a consensus Hold rating among 19 Wall Street analysts. That rating is based on three Buy, 12 Hold, and four Sell recommendations issued in the last three months. The average MRNA price target of $51.50 implies 46.47% upside from current levels.
