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

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) have earned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $145.71.

Several research firms recently issued reports on PCVX. The Goldman Sachs Group began coverage on Vaxcyte in a research report on Friday, December 20th. They issued a “buy” rating and a $135.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Mizuho upped their target price on Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $140.00 price target on shares of Vaxcyte in a research report on Wednesday, November 6th.

Insider Activity at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $106.82, for a total value of $1,602,300.00. Following the completion of the transaction, the chief executive officer now owns 435,219 shares in the company, valued at approximately $46,490,093.58. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Guggenhime sold 42,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $115.39, for a total value of $4,846,380.00. Following the sale, the chief financial officer now owns 90,383 shares in the company, valued at $10,429,294.37. This trade represents a 31.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,732 shares of company stock worth $11,730,787. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

A number of large investors have recently bought and sold shares of PCVX. Natixis Advisors LLC increased its position in shares of Vaxcyte by 6.5% in the second quarter. Natixis Advisors LLC now owns 14,091 shares of the company’s stock valued at $1,064,000 after buying an additional 861 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in Vaxcyte in the 2nd quarter worth $228,000. Rhumbline Advisers raised its position in Vaxcyte by 7.4% during the second quarter. Rhumbline Advisers now owns 159,295 shares of the company’s stock worth $12,028,000 after acquiring an additional 11,001 shares during the period. TD Asset Management Inc lifted its holdings in Vaxcyte by 11.1% during the second quarter. TD Asset Management Inc now owns 312,426 shares of the company’s stock valued at $23,591,000 after purchasing an additional 31,138 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Vaxcyte by 9.5% during the second quarter. Victory Capital Management Inc. now owns 307,516 shares of the company’s stock valued at $23,221,000 after purchasing an additional 26,641 shares in the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

Vaxcyte Price Performance

Vaxcyte stock opened at $84.86 on Monday. Vaxcyte has a 1-year low of $53.83 and a 1-year high of $121.06. The business has a fifty day moving average price of $92.63 and a 200-day moving average price of $93.22. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of -18.45 and a beta of 0.94.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same period in the previous year, the business posted ($0.91) EPS. On average, equities research analysts anticipate that Vaxcyte will post -4.14 earnings per share for the current fiscal 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.