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.

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.

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