Needham raised its price target for Vaxcyte to $122 from $110 after positive Phase 3 results for the company's VAX-31 pneumococcal vaccine. Vaxcyte said the candidate met all prespecified co-primary immunogenicity endpoints in adults aged 50 and older in the pivotal OPUS-1 trial. VAX-31 met noninferiority criteria across all 28 serotypes shared with Pfizer's Prevnar 20 and/or Merck's Capvaxive, while showing superiority against three unique serotypes and cross-reactive serotype 20B. The vaccine also met noninferiority criteria across all 321 serotype comparisons in an immunobridging analysis of adults aged 18 to 49 versus those aged 50 to 64. Its safety and tolerability profile was comparable with the two marketed vaccines, with mostly mild-to-moderate reactions resolving within 48 hours and no vaccine-related serious adverse events or adverse-effect-related discontinuations. The findings are expected to support an upcoming Biologics License Application to the U.S. Food and Drug Administration. Vaxcyte plans additional adult Phase 3 and infant-program results in the first half of 2027. The stock was reported up about 30% in midday trading after earlier premarket updates showed gains of 56.91% at $88.62 and, initially, 91%.