UBS reveals a biotech stock that can nearly double from here

Shares of CureVac BV (NASDAQ: CVAC) have already almost doubled year-to-date but a UBS analyst says the stock still has a lot more room to the upside.

CureVac stock could gain close to 100%

On Thursday, Eliana Merle turned bullish on the biopharmaceutical firm and sharply increased her price objective to $18 that represents close to another 100% upside from here.   

The upgrade arrives only weeks after the German company reported positive preliminary data for its joint COVID-19 and flu mRNA vaccine. Her note reads:

Following the data, CEO Franz-Werner Haas had said the company was starting the new year as a competitive player in mRNA therapies.

CureVac recently named its next CEO

In November, CureVac reported a near 62% year-over-year decline in its third quarter revenue. But Merle’s upgrade today suggests that she is bullish on the new management.

Earlier this month, the biotech firm named Alexander Zehnder as its new Chief Executive. Zehnder, who’s currently the Global Head of Oncology at Sanofi, will assume the role on April 1^st.

The biotech stock is still trading only at a fraction of its all-time high in February 2021.