Mizuho Securities analyst Salim Syed has maintained their bullish stance on PCVX stock, giving a Buy rating yesterday.
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Salim Syed has given his Buy rating due to a combination of factors that highlight Vaxcyte’s promising prospects. The company is on track with its Phase 2 VAX-24 infant study, with no changes to the timeline, and management has indicated that the readout will follow the same format as previous ones. Although there might be some non-inferiority misses due to the proof-of-concept nature of the trial, the overall outlook remains positive, with further safety and efficacy data expected by the end of 2025.
Additionally, Vaxcyte’s active engagement with policymakers and public health stakeholders, including the FDA and CDC, is a significant factor in Syed’s rating. The establishment of a dedicated public affairs function in 2024 has enhanced their communication efforts, and there is bipartisan support for vaccines. The company’s technology, which is used to generate pneumococcal conjugate vaccines, has potential applications for other bacterial vaccines, further strengthening its position in the market. These elements collectively support the Buy rating for Vaxcyte’s stock.
In another report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $138.00 price target.
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