Joseph Stringer, an analyst from Needham, reiterated the Buy rating on Vaxcyte. The associated price target remains the same with $90.00.
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Joseph Stringer has given his Buy rating due to a combination of factors related to Vaxcyte’s recent clinical development updates. The company announced adjustments in its VAX-31 program timelines, with the Phase 3 pivotal non-inferiority trial for adults now set to commence in the fourth quarter of 2025. Additionally, an optimized dose cohort will be introduced in the ongoing Phase 2 infant trial, which is expected to enhance the likelihood of trial success, despite extending the topline data release to the first half of 2027.
Furthermore, Vaxcyte’s decision to pause the development of preclinical programs is a strategic move to conserve cash, thereby extending its financial runway into mid-2028. While these timeline shifts might initially cause a negative market reaction, Stringer believes that avoiding a more extensive efficacy trial for VAX-31 in adults and focusing on the optimized dose in infants positions the company favorably for future success. As a result, he reiterates a Buy rating with a price target of $90.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $50.00 price target.