In a report released yesterday, David Risinger from Leerink Partners reiterated a Buy rating on Vaxcyte (PCVX – Research Report), with a price target of $153.00.
David Risinger has given his Buy rating due to a combination of factors that highlight Vaxcyte’s promising future. The company is on track with its strong execution, particularly with the upcoming Phase 2 VAX-24 infant results, which are anticipated soon. Management has expressed confidence in the immune response continuity of VAX-24, based on previous positive outcomes in adult studies, despite acknowledging the possibility of non-inferiority misses in the infant study.
Additionally, Vaxcyte’s financial position is robust, with a substantial cash reserve of $3.1 billion as of the end of 2024, which is expected to support key milestones through 2027. This includes the Phase 2 VAX-24 infant trial, all Phase 3 VAX-31 adult studies, and the completion of their manufacturing suite. The company’s enthusiasm about its preclinical Group A strep vaccine candidate, VAX-A1, further underscores its potential for growth, even though specific timelines for clinical entry have not been disclosed.
PCVX’s price has also changed slightly for the past six months – from $79.480 to $78.650, which is a -1.04% drop .
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