Vaccitech Shares Surge as Alliance Global Initiates Coverage

Dow Jones2023-09-26

By Josh Beckerman

Shares of Vaccitech more than doubled to $3.53 Monday after Alliance Global Partners discussed its prospects for blockbuster drugs.

Volume was more than 34 million shares, compared with a 65-day average of 13,485. The stock is up about 51% for the year. On Friday, Vaccitech shares closed at $1.68.

Alliance Global initiated coverage with a buy rating and $12 price target, citing projections for VTP-300, which targets hepatitis B, and VTP-200 for human papillomavirus infection.

Analyst James Molloy wrote that "If ultimately successful in clinical trials and approved, we believe VTP-300 is a legitimate potential blockbuster drug ($1B+ in sales) worldwide." Molloy added that VTP-300 could be a blockbuster drug if it is approved and that the company's development pipeline is deep and varied beyond these two drugs.

Morgan Stanley, meanwhile, reduced its rating to equal-weight from overweight and reduced its price target to $3.25 from $14.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

September 25, 2023 15:45 ET (19:45 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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The stock is up about 51% for the year. On Friday, Vaccitech shares closed at $1.68. \n\n\n  Alliance Global initiated coverage with a buy rating and $12 price target, citing projections for VTP-300, which targets hepatitis B, and VTP-200 for human papillomavirus infection. \n\n\n  Analyst James Molloy wrote that \"If ultimately successful in clinical trials and approved, we believe VTP-300 is a legitimate potential blockbuster drug ($1B+ in sales) worldwide.\" Molloy added that VTP-300 could be a blockbuster drug if it is approved and that the company's development pipeline is deep and varied beyond these two drugs. \n\n\n  Morgan Stanley, meanwhile, reduced its rating to equal-weight from overweight and reduced its price target to $3.25 from $14. \n\n\n \n\n\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 25, 2023 15:45 ET (19:45 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2370297667"}