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AstraZeneca Pharma stock hits all-time high after firm emerges frontrunner for Covid-19 vaccine

AstraZeneca Pharma India stock has gained 9.9% in one week, 17% in one month and 35% since the beginning of the year.

Rupa Burman Roy | June 29, 2020 | Updated 16:30 IST
AstraZeneca Pharma stock hits all-time high after firm emerges frontrunner for Covid-19 vaccine
Market capitalisation of the firm rose to Rs 8,910.63 crore

AstraZeneca Pharma India share price hit all-time high of Rs 3,591 today after World Health Organisation (WHO) identified the candidates mentioned by Oxford University - AstraZeneca and Moderna Inc as front-runners who are working toward a coronavirus vaccine.

Also Read: Coronavirus vaccine update: Who will make it first?

While addressing a virtual media conference from Geneva, WHO Chief Scientist Soumya Swaminathan stated that AstraZeneca's coronavirus vaccine candidate is the most advanced vaccine currently in terms of development.

The stock today opened at 3,439.95 gaining 2.7% today and later touched a fresh high of Rs 3,591, rising 7.21% against the last closing value of Rs 3,349 on BSE. Earlier, the stock also touched an intraday low of Rs 3,420.

AstraZeneca Pharma stock price trades higher than 5, 20, 50, 100 and 200-day moving averages. The stock has gained 9.9% in one week, 17% in one month and 35% since the beginning of the year. AstraZeneca Pharma stock has given 67% returns in the last one year.

Market capitalisation of the firm rose to Rs 8,910.63 crore.

AstraZeneca said they could deliver the vaccine by October if everything goes well. AstraZeneca CEO Pascal Soriot said that their potential COVID-19 vaccine candidate is likely to provide protection for a year. The company has already started human trials.

As per the chief scientist of the UN-run health organisation, the pharma company has more global scope at the moment in terms of where they are doing and planning their vaccine trials. Swaminathan said.

"They have advanced into phase 2 trials and are planning phase 3 in many countries. Moderna also has plans to go to phase 3 of clinical trials by mid-July, " she added.

Johnson and Johnson, Sanofi, Inovio, Sinovac, CanSino are other companies to have made significant progress in making Covid-19 vaccine.

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