Guggenheim raised the firm’s price target on Vaxcyte (PCVX) to $80 from $72 and keeps a Buy rating on the shares. The firm sees Merck’s (MRK) V116 launch, anticipated following its June 17 PDUFA, and the subsequent June 26-27 ACIP meeting, as a potential catalyst for “a doubling or more of what we currently estimate to be a $700M-$1B US adult PCV market” and has continued enthusiasm for Vaxcyte’s VAX-24/VAX-31 opportunity in the forecasted $8-12B pneumococcal, or PCV, vaccine market. The firm believes successful results in the Phase 1 VAX-31 adult immunogenicity study could drive shares to its upwardly revised price target, the analyst added.
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Read More on PCVX:
- Vaxcyte price target raised to $80 from $67 at BofA
- Vaxcyte initiated with a Buy at Mizuho
- VAX-24 Phase 1/2 Adult Proof-of-Concept Data Published in The Lancet Infectious Diseases Highlight Best-in-Class Potential of Vaxcyte’s 24-Valent Pneumococcal Conjugate Vaccine (PCV) Candidate
- Vaxcyte says VAX-24 proof-of-concept results published in The Lancet
- Vaxcyte appoints Lee to board of directors
