Needham analyst Joseph Stringer has maintained their bullish stance on PCVX stock, giving a Buy rating today.
Joseph Stringer has given his Buy rating due to a combination of factors, despite the recent challenges faced by Vaxcyte. The company’s VAX-24 vaccine for infants showed promising results in its Phase 2 trial, achieving non-inferiority in the majority of serotypes tested. Although the results fell short of high investor expectations, they still met the minimum criteria set by the analyst.
Stringer acknowledges that the stock has experienced a decline due to these unmet expectations and the need for dose optimization. However, he remains optimistic about Vaxcyte’s potential, citing the company’s previous success with adult vaccines and the ongoing development of VAX-24. The lowered price target reflects increased risks, but the Buy rating indicates confidence in the company’s long-term prospects.
According to TipRanks, Stringer is an analyst with an average return of -3.2% and a 35.37% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Lexicon Pharmaceuticals, and Rhythm Pharmaceuticals.