Vaxcyte (PCVX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Jason Gerberry from Bank of America Securities reiterated a Buy rating on the stock and has a $157.00 price target.
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Jason Gerberry has given his Buy rating due to a combination of factors that highlight Vaxcyte’s promising position in the market. A significant factor is the company’s potential to capture a substantial share of the multi-billion-dollar pneumococcal vaccine market with its broad-spectrum vaccines. Previous Phase 2 trials in adults have shown Vaxcyte’s vaccines outperforming the current standard, Pfizer’s Prevnar-20, which strengthens confidence in their upcoming data for infants.
Gerberry believes that the Phase 2 data for VAX-24 in infants is crucial, as it will provide the first serological data in this segment, potentially reducing perceived risks and enhancing the company’s competitive profile. The anticipated positive outcomes could alleviate existing concerns and positively impact the stock valuation, as Vaxcyte continues to demonstrate a high probability of success in head-to-head trials. Overall, the company’s innovative approach and underappreciated market opportunities support the Buy rating and a price objective of $157.
Gerberry covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical, Exelixis, and Catalyst Pharma. According to TipRanks, Gerberry has an average return of 1.9% and a 45.01% success rate on recommended stocks.