Needham analyst Joseph Stringer has maintained their bullish stance on PCVX stock, giving a Buy rating yesterday.
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Joseph Stringer has given his Buy rating due to a combination of factors that highlight the potential of Vaxcyte’s stock. Despite some negative news and regulatory uncertainties affecting the broader market, Stringer believes that the company’s fundamentals remain robust. Vaxcyte has confirmed key timelines for its pivotal trials and data releases, which are crucial for its future growth prospects.
Stringer acknowledges the current market pressures, including anti-vaccine sentiment and changes in regulatory leadership, as temporary challenges. However, he considers these factors to be overshadowed by the company’s strong data and strategic plans. Consequently, he views the current stock price as undervalued, presenting a buying opportunity for investors who are focused on the company’s long-term potential.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $85.00 price target.