Vaxcyte’s (PCVX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research note published on Wednesday,Benzinga reports. The firm currently has a $140.00 target price on the stock.

Several other equities analysts have also commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a report on Wednesday, November 6th. The Goldman Sachs Group began coverage on Vaxcyte in a report on Friday, December 20th. They set a “buy” rating and a $135.00 target price for the company. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $147.50.

Vaxcyte Trading Down 1.6 %

NASDAQ:PCVX opened at $73.02 on Wednesday. The firm has a market capitalization of $9.10 billion, a PE ratio of -15.87 and a beta of 0.98. The stock has a 50 day moving average of $84.59 and a 200-day moving average of $94.71. Vaxcyte has a 52 week low of $58.10 and a 52 week high of $121.06.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.14. As a group, analysts predict that Vaxcyte will post -4.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $83.85, for a total transaction of $670,800.00. Following the completion of the transaction, the chief financial officer now directly owns 109,491 shares of the company’s stock, valued at approximately $9,180,820.35. This trade represents a 6.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Grant Pickering sold 15,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $92.45, for a total value of $1,386,750.00. Following the transaction, the chief executive officer now directly owns 450,301 shares of the company’s stock, valued at approximately $41,630,327.45. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,616 shares of company stock valued at $6,766,481 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCVX. Blue Trust Inc. boosted its stake in Vaxcyte by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Raymond James & Associates boosted its stake in Vaxcyte by 17.0% during the 3rd quarter. Raymond James & Associates now owns 81,235 shares of the company’s stock valued at $9,283,000 after purchasing an additional 11,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Vaxcyte by 28.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,011 shares of the company’s stock valued at $1,698,000 after acquiring an additional 3,349 shares during the last quarter. Nisa Investment Advisors LLC lifted its position 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 valued at $252,000 after acquiring an additional 110 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Vaxcyte by 60.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 64,664 shares of the company’s stock valued at $7,389,000 after acquiring an additional 24,322 shares during the last quarter. 96.78% of the stock is owned by institutional investors.

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.