David Risinger, an analyst from Leerink Partners, maintained the Buy rating on Vaxcyte (PCVX – Research Report). The associated price target remains the same with $153.00.
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David Risinger has given his Buy rating due to a combination of factors including the potential for improvement in Vaxcyte’s vaccine development. Despite the VAX-24 vaccine missing certain non-inferiority criteria in the Phase 2 infant study, there is optimism about the future. The company plans to optimize the protein carrier allocation for the missed serotypes, which could lead to better outcomes in Phase 3 trials. Additionally, the larger sample sizes in Phase 3 are expected to provide stronger statistical power.
Moreover, the choice of the middle dose for further development is seen as a strategic move, pending further study results. While the stock has been affected by external factors such as the resignation of a key regulatory figure, the underlying potential for Vaxcyte’s vaccine to meet efficacy standards in future trials supports the Buy rating. The company’s approach to addressing current challenges and the expected improvements in upcoming phases are key reasons for maintaining a positive outlook.
Risinger covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Vertex Pharmaceuticals, and AnaptysBio. According to TipRanks, Risinger has an average return of 8.5% and a 54.11% success rate on recommended stocks.
In another report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $100.00 price target.
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