Vaxcyte, Inc. (NASDAQ:PCVX) Receives Average Recommendation of “Buy” from Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has earned an average rating of “Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $147.50.

Several equities analysts have recently commented on the stock. BTIG Research upped their price objective on shares of Vaxcyte from $98.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group increased their price objective on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Leerink Partners boosted their target price on Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a research note on Thursday, June 20th. Finally, Bank of America boosted their price objective on shares of Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th.

Insider Buying and Selling

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $81.17, for a total transaction of $649,360.00. Following the completion of the transaction, the chief financial officer now owns 96,720 shares of the company’s stock, valued at approximately $7,850,762.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $84.26, for a total value of $1,263,900.00. Following the sale, the chief executive officer now owns 478,888 shares in the company, valued at approximately $40,351,102.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $81.17, for a total transaction of $649,360.00. Following the transaction, the chief financial officer now owns 96,720 shares of the company’s stock, valued at $7,850,762.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,000 shares of company stock valued at $6,508,130 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in shares of Vaxcyte by 155.3% in the fourth quarter. Parallel Advisors LLC now owns 411 shares of the company’s stock worth $26,000 after acquiring an additional 250 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Vaxcyte during the 2nd quarter valued at about $35,000. Fidelis Capital Partners LLC purchased a new stake in Vaxcyte during the 1st quarter valued at about $37,000. J.Safra Asset Management Corp raised its holdings in Vaxcyte by 649.4% in the second quarter. J.Safra Asset Management Corp now owns 607 shares of the company’s stock worth $46,000 after buying an additional 526 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Vaxcyte in the second quarter worth about $70,000. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Price Performance

PCVX opened at $111.29 on Friday. Vaxcyte has a 1 year low of $44.20 and a 1 year high of $121.06. The stock’s 50 day simple moving average is $95.15 and its 200 day simple moving average is $79.28. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of -26.00 and a beta of 0.97.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Tuesday, August 6th. The company reported ($1.10) EPS for the quarter, topping the consensus estimate of ($1.14) by $0.04. During the same quarter in the previous year, the company earned ($0.70) earnings per share. As a group, sell-side analysts anticipate that Vaxcyte will post -4.33 EPS for the current year.

About Vaxcyte

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.