BTIG analyst Thomas Shrader has maintained their bullish stance on PCVX stock, giving a Buy rating yesterday.
Thomas Shrader has given his Buy rating due to a combination of factors that highlight Vaxcyte’s potential in the vaccine market. Despite the unexpected results from the VAX-24 readout in infants, the vaccine showed overwhelmingly positive results in adults, indicating its potential as a leading vaccine for children. The company has demonstrated flexibility and a proactive approach by already making improvements in VAX-31, which is expected to yield better results in future trials.
Moreover, Vaxcyte’s vaccines, including VAX-24 and VAX-31, have shown no evidence of reduced efficacy when adding more serotypes, which is a common issue in other vaccines. This adaptability and potential for improvement make Vaxcyte’s offerings compelling. Additionally, changes in vaccination recommendations, such as the lowering of the target age for PCV vaccines, could expand the market for Vaxcyte’s products, potentially increasing their total addressable market. These factors contribute to Shrader’s optimistic outlook and Buy rating for Vaxcyte’s stock.
According to TipRanks, Shrader is a 3-star analyst with an average return of 1.3% and a 34.02% success rate. Shrader covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics, Denali Therapeutics, and Verona Pharma.
In another report released yesterday, Guggenheim also reiterated a Buy rating on the stock with a $160.00 price target.