BTIG raised the firm’s price target on Vaxcyte to $160 from $98 and keeps a Buy rating on the shares. It was clear based on earlier “mixed dose” P2 cohorts for VAX-24, that the Vaxcyte T-Cell sparing technology was powerful enough to drive immunization against more than 24 serotypes, but based on Tuesday’s readout, adding the 11 additional serotypes in VAX-31 relative to PCV-20 was “easy,” the analyst tells investors in a research note. ACIP recommendation for over 50 years of age seems reasonable, the firm says.
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