Vaxcyte, Inc. (NASDAQ:PCVX) Receives $147.50 Consensus Target Price from Brokerages

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) have been assigned an average rating of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $147.50.

Several equities analysts recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. BTIG Research upped their price objective on Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho boosted their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Bank of America raised their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Leerink Partners raised their target price on shares of Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd.

Vaxcyte Trading Up 2.8 %

Shares of PCVX stock opened at $88.39 on Friday. Vaxcyte has a twelve month low of $48.24 and a twelve month high of $121.06. The stock has a fifty day simple moving average of $108.44 and a two-hundred day simple moving average of $89.10. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of -19.22 and a beta of 1.01.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.27. During the same quarter in the prior year, the firm earned ($0.91) EPS. Research analysts predict that Vaxcyte will post -4.14 EPS for the current fiscal year.

Insider Transactions at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 7,098 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $109.21, for a total transaction of $775,172.58. Following the sale, the chief executive officer now directly owns 138,581 shares of the company’s stock, valued at approximately $15,134,431.01. This trade represents a 4.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the transaction, the chief financial officer now directly owns 90,383 shares of the company’s stock, valued at approximately $10,479,005.02. This trade represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,464 shares of company stock worth $11,455,576 over the last three months. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vaxcyte

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Vaxcyte during the first quarter valued at $298,000. Russell Investments Group Ltd. acquired a new position in Vaxcyte in the 1st quarter worth about $1,288,000. ProShare Advisors LLC raised its holdings in Vaxcyte by 23.4% in the 1st quarter. ProShare Advisors LLC now owns 26,667 shares of the company’s stock worth $1,822,000 after purchasing an additional 5,060 shares during the period. Vanguard Group Inc. boosted its position in Vaxcyte by 15.2% during the first quarter. Vanguard Group Inc. now owns 9,737,254 shares of the company’s stock worth $665,152,000 after purchasing an additional 1,284,883 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Vaxcyte by 451.7% in the first quarter. Covestor Ltd now owns 1,153 shares of the company’s stock valued at $79,000 after purchasing an additional 944 shares during the period. 96.78% of the stock is owned by hedge funds and other institutional investors.

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.