BTIG analyst Thomas Shrader maintained a Buy rating on Vaxcyte (PCVX – Research Report) yesterday and set a price target of $160.00.
Thomas Shrader has given his Buy rating due to a combination of factors surrounding Vaxcyte’s promising vaccine developments. The company’s VAX-24 platform is undergoing a pivotal P2 trial involving approximately 800 infants, which is expected to be a significant test of the vaccine’s efficacy. Shrader notes that VAX-24 has consistently shown better results compared to PREVNAR20, with an expectation of missing on zero to two serotypes, suggesting a robust performance.
In addition to VAX-24, Vaxcyte’s VAX-31 vaccine is also making strides with plans to initiate a pivotal P3 study in adults by mid-2025. The potential market capture for VAX-31 is promising, especially following recent recommendations that expand its target demographic. The high immunogenicity and favorable safety profile observed in trials support the likelihood of VAX-31’s success. Shrader’s positive outlook is further backed by a detailed DCF valuation, indicating strong future financial performance.
In another report released on February 11, Needham also reiterated a Buy rating on the stock with a $140.00 price target.