Bank of America Securities Maintains a Buy Rating on Vaxcyte (PCVX)

Vaxcyte, Inc. (NASDAQ:PCVX) is one of the best biotech stocks with high potential. In a report released on October 3, Jason Gerberry from Bank of America Securities maintained a Buy rating on Vaxcyte, Inc. (NASDAQ:PCVX) and set a price target of $134.00.

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In other news, Vaxcyte, Inc. (NASDAQ:PCVX) reported on September 30 that it entered into a new agreement with Thermo Fisher Scientific Inc. to “bring additional fill-finish commercial manufacturing for Vaxcyte’s broad-spectrum pneumococcal conjugate vaccines (PCVs) to the United States”.

Management reported that Thermo Fisher would “provide custom commercial fill-finish capacity for the Company’s broad-spectrum PCVs at its Greenville, North Carolina facility”.

The agreement, including both manufacturing and related services, marks a long-term US commercial manufacturing commitment for Vaxcyte, Inc. (NASDAQ:PCVX), representing up to $1 billion.

Vaxcyte, Inc. (NASDAQ:PCVX) is a clinical-stage vaccine innovation company that develops high-fidelity vaccines. It develops broad-spectrum conjugate and novel protein vaccines to prevent or treat bacterial infectious diseases.

The company re-engineers the creation of highly complex vaccines through advanced chemistry and modern synthetic techniques.

While we acknowledge the potential of PCVX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PCVX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.