Needham raised the firm’s price target on Vaxcyte to $95 from $73 and keeps a Buy rating on the shares after its Q4 results. The company’s VAX-24/31 studies are “progressing nicely”, the analyst tells investors in a research note. Vaxcyte is scheduled to announce topline safety, tolerability, and immunogenicity data from the VAX-31 Phase 1/2 trial in adults in Q3, and the results will determine whether the company will advance either VAX-31 or VAX-24 into a Phase 3 pivotal program, the firm added.
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