Shares of vaccine developer Vaxcyte (NASDAQ:PCVX) surged over 70% today. This can be attributed to favorable data for its experimental pneumococcal vaccine, VAX-24.
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Indeed, when compared to Pfizer’s (NYSE:PFE) Prevnar 20 vaccine, VAX-24 actually achieved better immune responses for 16 of the serotypes targeted by Prevnar 20. In addition, it had similar results for the other four serotypes while also targeting an additional four not covered by the Pfizer version.
Is PCVX a Good Stock to Buy?
PCVX stock has a Strong Buy consensus rating based on three Buys assigned in the past three months. The average PCVX stock price target of $48 implies 36.1% upside potential.
