Vaxcyte (NASDAQ:PCVX) Coverage Initiated at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of Vaxcyte (NASDAQ:PCVX - Get Free Report) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set a "buy" rating and a $135.00 price target on the stock. The Goldman Sachs Group's price objective points to a potential upside of 56.02% from the stock's previous close.

Other analysts have also issued research reports about the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Vaxcyte in a report on Wednesday, November 6th. Bank of America increased their target price on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Mizuho lifted their target price on Vaxcyte from $113.00 to $163.00 and gave the company an "outperform" rating in a research report on Tuesday, September 10th. Leerink Partners upped their price target 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $140.00 price target on shares of Vaxcyte in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Vaxcyte presently has a consensus rating of "Buy" and a consensus target price of $145.71.

Vaxcyte Stock Performance

Shares of Vaxcyte stock traded up $0.32 on Friday, reaching $86.53. The stock had a trading volume of 3,859,357 shares, compared to its average volume of 922,601. The business's 50-day moving average price is $99.26 and its two-hundred day moving average price is $92.03. Vaxcyte has a fifty-two week low of $53.83 and a fifty-two week high of $121.06. The stock has a market cap of $10.78 billion, a P/E ratio of -18.81 and a beta of 0.94.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly 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 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 news, SVP Mikhail Eydelman sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $109.27, for a total value of $546,350.00. Following the completion of the transaction, the senior vice president now owns 28,623 shares in the company, valued at $3,127,635.21. This trade represents a 14.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew Guggenhime sold 42,000 shares of the business's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $115.39, for a total value of $4,846,380.00. Following the completion of the sale, the chief financial officer now directly owns 90,383 shares in the company, valued at $10,429,294.37. This trade represents a 31.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,830 shares of company stock valued at $12,383,030 in the last ninety days. Company insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Vaxcyte

A number of large investors have recently added to or reduced their stakes in PCVX. Riverview Trust Co purchased a new stake in shares of Vaxcyte in the third quarter worth $27,000. Fifth Third Bancorp purchased a new stake in Vaxcyte during the 2nd quarter valued at approximately $35,000. Blue Trust Inc. boosted its position in shares of Vaxcyte by 33.5% during the third quarter. Blue Trust Inc. now owns 371 shares of the company's stock worth $42,000 after acquiring an additional 93 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Vaxcyte in the second quarter worth about $70,000. Finally, Meeder Asset Management Inc. raised its holdings in Vaxcyte by 1,007.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 698 shares of the company's stock valued at $80,000 after buying an additional 635 shares during the period. Institutional investors own 96.78% of the company's stock.

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.