Bank of America Lowers Vaxcyte (NASDAQ:PCVX) Price Target to $137.00

Vaxcyte (NASDAQ:PCVX) had its price objective cut by investment analysts at Bank of America from $157.00 to $137.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 306.65% from the company’s current price.

Several other brokerages have also weighed in on PCVX. Needham & Company LLC cut their price objective on Vaxcyte from $140.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $160.00 price target on shares of Vaxcyte in a report on Wednesday, March 12th. Finally, The Goldman Sachs Group started coverage on Vaxcyte in a research note on Friday, December 20th. They set a “buy” rating and a $135.00 price objective for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Vaxcyte has a consensus rating of “Buy” and an average price target of $136.50.

Vaxcyte Trading Up 4.5 %

PCVX stock opened at $33.69 on Tuesday. The firm’s 50-day moving average is $76.94 and its two-hundred day moving average is $90.84. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of -7.32 and a beta of 1.02. Vaxcyte has a 52 week low of $30.12 and a 52 week high of $121.06.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.14. On average, equities research analysts predict that Vaxcyte will post -4.21 earnings per share for the current year.

Insider Activity at Vaxcyte

In other Vaxcyte news, Director Teri Loxam sold 6,250 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total value of $531,937.50. Following the completion of the sale, the director now owns 7,175 shares of the company’s stock, valued at $610,664.25. The trade was a 46.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $86.51, for a total value of $692,080.00. Following the transaction, the chief financial officer now directly owns 109,491 shares in the company, valued at approximately $9,472,066.41. This represents a 6.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,250 shares of company stock valued at $3,170,738. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PCVX. California State Teachers Retirement System grew its position in shares of Vaxcyte by 17.5% in the fourth quarter. California State Teachers Retirement System now owns 105,052 shares of the company’s stock valued at $8,600,000 after purchasing an additional 15,616 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Vaxcyte during the 4th quarter valued at approximately $8,487,000. Forum Financial Management LP acquired a new stake in Vaxcyte in the 4th quarter valued at approximately $255,000. GF Fund Management CO. LTD. bought a new position in Vaxcyte in the 4th quarter worth approximately $214,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Vaxcyte by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 472,964 shares of the company’s stock worth $38,717,000 after buying an additional 64,690 shares during the last quarter. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Company Profile

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.