Brokerages Set Vaxcyte, Inc. (NASDAQ:PCVX) Target Price at $145.71

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) has received a consensus recommendation of "Buy" from the eight brokerages that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $145.71.

A number of analysts recently issued reports on PCVX shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Vaxcyte in a research note on Wednesday, November 6th. Mizuho increased their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 10th. The Goldman Sachs Group began coverage on shares of Vaxcyte in a report on Friday, December 20th. They issued a "buy" rating and a $135.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 price target on shares of Vaxcyte in a report on Wednesday, November 6th.

Insider Activity at Vaxcyte

In other news, CEO Grant Pickering sold 15,000 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $106.82, for a total value of $1,602,300.00. Following the completion of the sale, the chief executive officer now directly owns 435,219 shares in the company, valued at approximately $46,490,093.58. The trade was a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Guggenhime sold 42,000 shares of the company's 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 sale, the chief financial officer now directly owns 90,383 shares of the company's stock, valued at $10,429,294.37. This trade represents a 31.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,732 shares of company stock valued at $11,730,787 over the last 90 days. 3.10% of the stock is owned by insiders.

Institutional Trading of Vaxcyte

Several institutional investors have recently added to or reduced their stakes in PCVX. Riverview Trust Co bought a new stake in shares of Vaxcyte in the 3rd quarter valued at about $27,000. Blue Trust Inc. lifted its position 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 purchasing an additional 93 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Vaxcyte during the second quarter valued at approximately $70,000. Meeder Asset Management Inc. grew its holdings in shares of Vaxcyte by 1,007.9% in the third quarter. Meeder Asset Management Inc. now owns 698 shares of the company's stock worth $80,000 after purchasing an additional 635 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in shares of Vaxcyte in the third quarter worth $92,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

Vaxcyte Stock Performance

NASDAQ PCVX traded up $1.13 during trading on Monday, hitting $85.99. 879,014 shares of the company's stock traded hands, compared to its average volume of 807,105. The stock has a market capitalization of $10.72 billion, a price-to-earnings ratio of -18.69 and a beta of 0.98. The business has a 50 day moving average of $92.09 and a 200-day moving average of $93.31. Vaxcyte has a 12-month low of $58.10 and a 12-month high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, beating analysts' consensus estimates of ($1.10) by $0.27. During the same quarter in the previous year, the firm earned ($0.91) EPS. On average, analysts expect that Vaxcyte will post -4.14 EPS for the current year.

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.