Vaxcyte, Inc. (NASDAQ:PCVX) Receives $101.17 Consensus Target Price from Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $101.1667.

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research report on Friday, January 9th. Leerink Partners set a $77.00 price target on shares of Vaxcyte and gave the company an “outperform” rating in a report on Wednesday, November 19th. BTIG Research reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Vaxcyte in a research report on Monday, November 10th. Finally, Needham & Company LLC boosted their price objective on shares of Vaxcyte from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th.

Insiders Place Their Bets

In related news, SVP Elvia Cowan sold 11,623 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $47.92, for a total transaction of $556,974.16. Following the transaction, the senior vice president directly owned 14,534 shares in the company, valued at $696,469.28. The trade was a 44.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Harpreet S. Dhaliwal sold 9,743 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $46.69, for a total value of $454,900.67. Following the completion of the sale, the insider owned 23,928 shares of the company’s stock, valued at approximately $1,117,198.32. This trade represents a 28.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Vaxcyte

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP boosted its stake in Vaxcyte by 148.9% in the 3rd quarter. Allworth Financial LP now owns 1,222 shares of the company’s stock worth $44,000 after purchasing an additional 731 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Vaxcyte in the third quarter worth $45,000. CIBC Private Wealth Group LLC raised its holdings in shares of Vaxcyte by 22,500.0% in the third quarter. CIBC Private Wealth Group LLC now owns 1,356 shares of the company’s stock worth $49,000 after buying an additional 1,350 shares during the last quarter. CWM LLC lifted its stake in shares of Vaxcyte by 197.3% during the second quarter. CWM LLC now owns 1,680 shares of the company’s stock worth $55,000 after buying an additional 1,115 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Vaxcyte by 176.7% during the second quarter. Blue Trust Inc. now owns 2,161 shares of the company’s stock valued at $70,000 after buying an additional 1,380 shares during the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

Vaxcyte Stock Up 2.0%

Shares of PCVX stock opened at $47.52 on Friday. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -9.82 and a beta of 1.34. Vaxcyte has a 52-week low of $27.66 and a 52-week high of $93.77. The company’s 50 day moving average is $46.64 and its 200 day moving average is $39.87.

Vaxcyte (NASDAQ:PCVX) last posted its earnings results on Tuesday, November 4th. The company reported ($1.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.29). During the same period in the prior year, the firm posted ($0.83) earnings per share. Analysts anticipate that Vaxcyte will post -4.21 EPS for the current fiscal year.

About Vaxcyte

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.