Optimism reigned on Thursday with the Vaccines and Related Biological Products Advisory Committee voting to recommend Food and Drug Administration approval for Moderna’s COVID-19 vaccine, mRNA-1273.
This news came on the heels of the Federal Reserve’s decisions on Wednesday to continue buying bonds to stimulate the economy and to keep interest rates near zero. The Fed also upgraded its economic outlook.
Add the prospect of a vote today for the new stimulus bill, which would put $600 or more into the pockets of American taxpayers, extend unemployment benefits and help small businesses, and things are looking up, at least as far as the markets go.
The Dow, Nasdaq and the S&P 500 all closed high on Thursday, gaining nearly 150 points, 106 points and 21 points, respectively.
With the market surging, which stocks should you watch?
Not too late to buy Moderna.
How much higher can Moderna (NASDAQ: MRNA) go? The experts at The Motley Fool said yesterday that the success of the pharmaceutical company’s COVID-19 vaccine seems to be “baked into” the share price. However, the cash infusion Moderna will get from sales of the vaccine could hit $11 billion in 2021, according to Bernstein analyst Ronny Gal. These prospects, plus the possibility of a long-term need for annual COVID-19 vaccines — much like the flu shot — could make Moderna the steal of the year right now.
Consider scoping out Apollo Endosurgery.
Moderna is not the only medical company worth watching right now. Apollo Endosurgery (NASDAQ: APEN), a medical technology company focusing on less invasive treatments for gastrointestinal conditions, has been recognized as a buy stock by several analysts, according to The Motley Fool. Although Apollo ended the day down yesterday, losing 9.32% to close at 3.60, the company recently received FDA clearance for its X-Tack Endoscopic HeliX Tracking System, a medical device designed to close and heal defects in the intestines.
Lennar Corporation builds on success.
Lennar Corporation (NYSE: LEN), a Miami-based home construction and real estate company, continues to rise, with analysts expecting above average returns in the next few months. Lennar closed out Thursday up 7.62%, gaining 5.66 points for the day. Kiplinger recently forecast that house sales and starts “will end 2020 on solid footing,” which bodes well for this and other housing-related stocks.
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