Needham analyst Joseph Stringer raised the firm’s price target on Vaxcyte (PCVX) to $110 from $90 and keeps a Buy rating on the shares. The analyst added Vaxcyte to the Needham Conviction List, replacing Phathom Pharmaceuticals (PHAT). Vaxcyte is the firm’s top pick for 2026. It is e bullish on the shares 2026 based on the view that the “strongly positive” VAX-31 Phase 2 adult data provided “reasonably good de-risking” for the Phase 3 pivotal readout in Q4. Vaxcyte’s pneumococcal vaccine still has best-in-class potential, the analyst tells investors in a research note.
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