Evercore ISI analyst Umer Raffat has maintained their bullish stance on PCVX stock, giving a Buy rating today.
Umer Raffat has given his Buy rating due to a combination of factors surrounding Vaxcyte’s recent data release. Despite the company missing four serotypes compared to Prevnar20 in their infant data, Raffat believes that three of these misses are narrow and could likely be resolved in a larger Phase 3 trial. The confidence intervals for these misses are expected to improve with an increased sample size, which suggests potential for better results in future trials.
Additionally, while the serotype 12F presented a significant challenge, Raffat points out that the issue may be related to the threshold choice in assays. The seroconversion rates post dose 4 were notably higher, indicating that the vaccine’s efficacy could be underestimated due to the current threshold. Adjusting these thresholds might reveal a more favorable comparison against Prevnar20, supporting the potential for Vaxcyte’s vaccine to perform well in subsequent trials.