Vaxcyte initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of Vaxcyte (PCVX) with a Neutral rating and $38 price target The firm believes the company’s vaccine-focused platform provided “validating” data for its flagship pneumococcal conjugate vaccine franchise over the past three years, positioning Vaxcyte to be a leading player in the “large and established” pneumococcal vaccine market. However, an extended timeline to the company’s next catalyst, the Phase 3 data in adults in late 2026, along with regulatory uncertainty related to vaccines will cap the stock’s performance in the near term, the analyst tells investors in a research note.