Jefferies Starts Vaxcyte (PCVX) at Buy (Earlier)

Jefferies analyst Biren Amin initiates coverage on Vaxcyte (NASDAQ: PCVX) with a Buy rating and a price target of $41.00.

The analyst commented, "The Vaxcyte vaccine platform enables it to potentially provide a Pneumococcal vaccine with broader coverage than the current multi-billion dollar blockbuster, Prevnar13, sold by Pfizer. This lead candidate, VAX-24, is expected to initiate Ph I/II in YE ’21; however, animal data shows similar protection to Prevnar13 while providing coverage on serotypes not covered by Prevnar13. Our ww peak sales estimates of $1.6B for VAX-24drives our Buy and PT at $41."

For an analyst ratings summary and ratings history on Vaxcyte click here. For more ratings news on Vaxcyte click here.

Shares of Vaxcyte closed at $29.38 yesterday.

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