The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?
Moderna, Inc. (NASDAQ: MRNA) announced that it has submitted an application to the FDA seeking approval of its Spikevax 2024-2025 formula, targeting the COVID-19 variant JN.1, the latest variant of the novel virus responsible for the 2020 pandemic.
Capricor Therapeutics (NASDAQ: CAPR), a biotechnology firm focused on innovative therapies for rare diseases, has announced favorable three-year results from the ongoing HOPE-2 open-label extension (OLE) study on CAP-1002 for Duchenne muscular dystrophy.
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?