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

Vaxcyte, Inc. (NASDAQ:PCVX) has earned an average rating of “Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $147.50.

Several brokerages have weighed in on PCVX. Bank of America boosted their price objective on Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Jefferies Financial Group increased 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research note on Wednesday, November 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Finally, BTIG Research raised their price target on Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd.

Insiders Place Their Bets

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the sale, the chief financial officer now directly owns 90,383 shares in the company, valued at $10,479,005.02. This represents a 8.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Grant Pickering sold 2,366 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $92.25, for a total value of $218,263.50. Following the completion of the sale, the chief executive officer now owns 136,215 shares of the company’s stock, valued at $12,565,833.75. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,830 shares of company stock worth $12,600,310. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

Large investors have recently modified their holdings of the business. Blue Trust Inc. raised its position in Vaxcyte by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company’s stock valued at $42,000 after buying an additional 93 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Vaxcyte by 5.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,209 shares of the company’s stock worth $252,000 after acquiring an additional 110 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Vaxcyte by 3.6% in the third quarter. CIBC Asset Management Inc now owns 3,136 shares of the company’s stock valued at $358,000 after purchasing an additional 110 shares during the last quarter. Amalgamated Bank lifted its position in shares of Vaxcyte by 4.2% in the second quarter. Amalgamated Bank now owns 3,759 shares of the company’s stock worth $284,000 after purchasing an additional 150 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in Vaxcyte during the third quarter worth $27,000. 96.78% of the stock is currently owned by institutional investors.

Vaxcyte Trading Down 0.2 %

PCVX opened at $87.72 on Thursday. Vaxcyte has a 1-year low of $53.83 and a 1-year high of $121.06. The stock has a market capitalization of $10.93 billion, a PE ratio of -19.07 and a beta of 0.94. The firm has a 50-day moving average price of $101.11 and a two-hundred day moving average price of $91.68.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($1.10) by $0.27. During the same quarter in the prior year, the firm earned ($0.91) EPS. On average, research analysts predict that Vaxcyte will post -4.14 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.