** Pneumococcal vaccine developer Vaxcyte PCVX.O shares up 0.8% to $53.24 premarket after above-target $550 mln equity raise

** San Carlos, California-based firm late Thurs sold 11 mln shares at $50

** Offering size boosted from $ 500 mln, priced at 5.4% discount to last sale

** Co intends to use net offering proceeds to fund clinical development of the VAX-31 adult and pediatric programs, including ongoing VAX-31 adult Phase 3 program, among other purposes, per the offering prospectus

** BofA, Jefferies, Leerink Partners, Evercore and Guggenheim joint bookrunners

** Through Thurs close, PCVX shares up ~14% in 2026 but off ~40% in the past year

** 9 of 10 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT of $110 up from $90 a month ago, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))