Vaxcyte, Inc. (NASDAQ:PCVX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $97.8333.

PCVX has been the subject of several recent analyst reports. BTIG Research restated a “buy” rating and set a $85.00 target price on shares of Vaxcyte in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a report on Tuesday, October 14th. The Goldman Sachs Group started coverage on Vaxcyte in a research note on Friday, September 12th. They set a “neutral” rating and a $38.00 price target for the company. Finally, Leerink Partners set a $77.00 price objective on Vaxcyte and gave the company an “outperform” rating in a research report on Wednesday, November 19th.

Vaxcyte Stock Down 1.4%

PCVX stock opened at $46.97 on Monday. Vaxcyte has a twelve month low of $27.66 and a twelve month high of $93.77. The stock has a market capitalization of $6.15 billion, a price-to-earnings ratio of -9.70 and a beta of 1.28. The firm’s fifty day simple moving average is $45.49 and its two-hundred day simple moving average is $38.32.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, November 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.29). During the same period in the previous year, the company posted ($0.83) EPS. As a group, equities research analysts expect that Vaxcyte will post -4.21 EPS for the current year.

Institutional Investors Weigh In On Vaxcyte

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PCVX. HighVista Strategies LLC boosted its holdings in shares of Vaxcyte by 1.1% in the second quarter. HighVista Strategies LLC now owns 33,457 shares of the company’s stock valued at $1,088,000 after purchasing an additional 355 shares during the period. Arizona State Retirement System increased its holdings in Vaxcyte by 1.6% during the 3rd quarter. Arizona State Retirement System now owns 34,333 shares of the company’s stock worth $1,237,000 after purchasing an additional 543 shares during the period. Hsbc Holdings PLC raised its position in Vaxcyte by 3.1% during the 1st quarter. Hsbc Holdings PLC now owns 18,461 shares of the company’s stock valued at $675,000 after purchasing an additional 552 shares in the last quarter. J.Safra Asset Management Corp lifted its holdings in shares of Vaxcyte by 18.5% in the 2nd quarter. J.Safra Asset Management Corp now owns 3,746 shares of the company’s stock worth $122,000 after buying an additional 585 shares during the period. Finally, Atria Investments Inc increased its stake in shares of Vaxcyte by 11.1% during the second quarter. Atria Investments Inc now owns 6,816 shares of the company’s stock valued at $222,000 after buying an additional 683 shares during the period. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Company Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.