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

Vaxcyte, Inc. (NASDAQ:PCVX) has been given an average rating of “Buy” by the eight research firms that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have covered the stock in the last year is $145.71.

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

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, 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 transaction of $4,846,380.00. Following the transaction, the chief financial officer now owns 90,383 shares of the company’s stock, valued at approximately $10,429,294.37. This trade represents a 31.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mikhail Eydelman sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $91.49, for a total transaction of $457,450.00. Following the completion of the sale, the senior vice president now owns 28,697 shares of the company’s stock, valued at approximately $2,625,488.53. This represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,732 shares of company stock valued at $11,730,787 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

Several hedge funds and other institutional investors have recently bought and sold shares of PCVX. Everence Capital Management Inc. bought a new position in shares of Vaxcyte in the 4th quarter worth $301,000. Principal Financial Group Inc. raised its holdings in Vaxcyte by 186.2% in the third quarter. Principal Financial Group Inc. now owns 52,702 shares of the company’s stock worth $6,022,000 after purchasing an additional 34,287 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Vaxcyte by 26.9% during the third quarter. Lord Abbett & CO. LLC now owns 312,425 shares of the company’s stock valued at $35,701,000 after buying an additional 66,183 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Vaxcyte by 13.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,786,335 shares of the company’s stock valued at $315,162,000 after buying an additional 324,560 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Vaxcyte in the 3rd quarter valued at about $507,000. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Trading Up 1.9 %

PCVX opened at $84.86 on Monday. Vaxcyte has a 12 month low of $53.83 and a 12 month high of $121.06. The stock has a 50-day moving average of $92.63 and a 200 day moving average of $93.22. The firm has a market cap of $10.58 billion, a P/E ratio of -18.45 and a beta of 0.94.

Vaxcyte (NASDAQ:PCVX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same period in the previous year, the firm posted ($0.91) earnings per share. On average, research analysts forecast 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.