Vaxcyte, Inc. (NASDAQ:PCVX) Given Average Recommendation of “Buy” by Analysts

Vaxcyte, Inc. (NASDAQ:PCVX) has earned a consensus rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $147.50.

Several research firms have recently issued reports on PCVX. Bank of America upped their target price on Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Jefferies Financial Group raised their target price on Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Vaxcyte in a report on Wednesday, November 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Vaxcyte in a research report on Wednesday, November 6th. Finally, Mizuho lifted their price objective on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th.

Vaxcyte Trading Down 6.3 %

PCVX opened at $86.83 on Friday. Vaxcyte has a 1-year low of $48.24 and a 1-year high of $121.06. The company has a market cap of $10.82 billion, a price-to-earnings ratio of -18.88 and a beta of 1.01. The company’s fifty day moving average price is $110.67 and its two-hundred day moving average price is $88.65.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data 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 prior year, the business earned ($0.91) EPS. As a group, equities analysts forecast that Vaxcyte will post -4.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Vaxcyte news, SVP Elvia Cowan sold 5,000 shares of Vaxcyte stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total transaction of $538,350.00. Following the completion of the sale, the senior vice president now directly owns 12,723 shares in the company, valued at $1,369,885.41. The trade was a 28.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Grant Pickering sold 2,366 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $103.89, for a total transaction of $245,803.74. Following the completion of the transaction, the chief executive officer now directly owns 137,398 shares of the company’s stock, valued at approximately $14,274,278.22. This represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,464 shares of company stock worth $12,640,276 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Vaxcyte by 68.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,466 shares of the company’s stock valued at $2,453,000 after purchasing an additional 8,685 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Vaxcyte by 392.4% during the second quarter. Harbor Capital Advisors Inc. now owns 40,342 shares of the company’s stock valued at $3,046,000 after buying an additional 32,149 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Vaxcyte by 18.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,176,181 shares of the company’s stock worth $216,966,000 after buying an additional 498,359 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Vaxcyte in the first quarter worth about $1,288,000. Finally, Tri Locum Partners LP bought a new stake in shares of Vaxcyte in the 2nd quarter valued at about $8,559,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

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.