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Vaxcyte initiated with an Outperform at TD Cowen

TD Cowen analyst Boris Peaker initiated coverage of Vaxcyte with an Outperform rating and no price target. Vaxcyte is developing a 24-valent pneumococcal conjugate vaccine VAX-24 in adults and infants, which has the potential to become a market leading PCV, addressing a $10B total addressable market, the analyst tells investors in a research note.

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