Cantor Fitzgerald Increases Earnings Estimates for Vaxcyte

Vaxcyte, Inc. (NASDAQ:PCVX - Free Report) - Investment analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for shares of Vaxcyte in a research note issued on Wednesday, November 6th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn ($3.87) per share for the year, up from their previous estimate of ($4.36). Cantor Fitzgerald currently has a "Overweight" rating on the stock. The consensus estimate for Vaxcyte's current full-year earnings is ($4.14) per share.

A number of other equities research analysts have also recently commented on PCVX. BTIG Research increased their target price on shares of Vaxcyte from $98.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a "buy" rating and set a $140.00 target price on shares of Vaxcyte in a research report on Wednesday, November 6th. Leerink Partners increased their target price on shares of Vaxcyte from $106.00 to $153.00 and gave the company an "outperform" rating in a research report on Tuesday, September 3rd. Jefferies Financial Group increased their target price on shares of Vaxcyte from $108.00 to $129.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Finally, Mizuho raised their price target on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an "outperform" rating in a report on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vaxcyte has an average rating of "Buy" and an average target price of $147.50.

Vaxcyte Stock Performance

NASDAQ:PCVX traded down $3.03 during midday trading on Monday, reaching $103.64. 875,326 shares of the stock traded hands, compared to its average volume of 841,025. Vaxcyte has a 12-month low of $46.16 and a 12-month high of $121.06. The business has a 50-day moving average of $111.56 and a two-hundred day moving average of $87.61. The stock has a market capitalization of $12.92 billion, a PE ratio of -23.19 and a beta of 1.01.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.27. During the same quarter in the previous year, the firm posted ($0.91) earnings per share.

Insider Transactions at Vaxcyte

In other news, CFO Andrew Guggenhime sold 42,000 shares of the stock in a transaction on 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Grant Pickering sold 15,000 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the sale, the chief executive officer now owns 478,888 shares in the company, valued at approximately $37,822,574.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Guggenhime sold 42,000 shares of Vaxcyte stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 90,383 shares of the company's stock, valued at $10,429,294.37. The trade was a 0.00 % 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 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCVX. Riverview Trust Co purchased a new position in Vaxcyte in the third quarter valued at $27,000. Fifth Third Bancorp purchased a new position in Vaxcyte in the second quarter valued at $35,000. Blue Trust Inc. increased its holdings in Vaxcyte by 33.5% in the third quarter. Blue Trust Inc. now owns 371 shares of the company's stock valued at $42,000 after buying an additional 93 shares in the last quarter. J.Safra Asset Management Corp increased its holdings in Vaxcyte by 649.4% in the second quarter. J.Safra Asset Management Corp now owns 607 shares of the company's stock valued at $46,000 after buying an additional 526 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Vaxcyte in the second quarter valued at $70,000. Hedge funds and other 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.