Vaxcyte, Inc. (NASDAQ:PCVX) Receives Average Recommendation of "Buy" from Analysts

Shares of Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) have been assigned an average rating of "Buy" from the seven ratings firms that are currently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $147.50.

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

Vaxcyte Price Performance

NASDAQ:PCVX traded down $5.85 during mid-day trading on Friday, hitting $86.83. The company's stock had a trading volume of 4,629,278 shares, compared to its average volume of 1,188,205. The stock has a market cap of $10.82 billion, a price-to-earnings ratio of -18.88 and a beta of 1.01. Vaxcyte has a 1 year low of $48.24 and a 1 year high of $121.06. The business's fifty day moving average is $110.67 and its two-hundred day moving average is $88.65.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, beating analysts' consensus estimates of ($1.10) by $0.27. During the same quarter in the previous year, the firm posted ($0.91) earnings per share. Analysts anticipate that Vaxcyte will post -4.14 EPS for the current fiscal year.

Insider Activity at Vaxcyte

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the transaction, the chief financial officer now owns 90,383 shares in the company, valued at $10,479,005.02. This represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Grant Pickering sold 15,000 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $78.98, for a total value of $1,184,700.00. Following the completion of the sale, the chief executive officer now directly owns 478,888 shares of the company's stock, valued at $37,822,574.24. The trade was a 3.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 117,464 shares of company stock valued at $12,640,276 over the last quarter. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Vaxcyte in the third quarter valued at $27,000. Fifth Third Bancorp acquired a new stake in shares of Vaxcyte in the second quarter worth approximately $35,000. Blue Trust Inc. grew its position in Vaxcyte by 33.5% during the third quarter. Blue Trust Inc. now owns 371 shares of the company's stock valued at $42,000 after acquiring an additional 93 shares during the period. J.Safra Asset Management Corp increased its position in shares of Vaxcyte by 649.4% in the second quarter. J.Safra Asset Management Corp now owns 607 shares of the company's stock worth $46,000 after acquiring an additional 526 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Vaxcyte in the 2nd quarter worth $70,000. 96.78% of the stock is owned by hedge funds and other 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.