BofA analyst Jason Gerberry raised the firm’s price target on Vaxcyte to $68 from $63 and keeps a Buy rating on the shares. The analyst cites the company’s announcement of positive Phase 2 results for VAX-24 as a pneumococcal vaccine in elderly patients, which paves the way for a Phase 3 initiation. The elderly data were largely consistent with prior VAX-24 data in younger adults and removes what had been been an overhang on the stock, the firm tells investors in a research note.
Published first on TheFly
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