Vaxcyte (PCVX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Stringer from Needham reiterated a Buy rating on the stock and has a $140.00 price target.
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Joseph Stringer has given his Buy rating due to a combination of factors related to Vaxcyte’s upcoming data announcements and the current valuation of its stock. The company is poised to release Phase 2 data for its VAX-24 vaccine for infants by the end of the first quarter of 2025. This data will compare the vaccine’s effectiveness against a competitor’s product, Prevnar20.
Stringer sees the current stock price as an attractive entry point, especially after a recent decline in November 2024. He believes that if the forthcoming data shows positive results, there is significant upside potential for the stock price, with estimates suggesting it could reach $113 per share or even $125 in an optimal outcome. As a result, he reiterates a Buy rating with a price target of $140.
In another report released on February 7, Bank of America Securities also reiterated a Buy rating on the stock with a $157.00 price target.