Vaxcyte’s (PCVX) Buy Rating Reaffirmed at BTIG Research

Vaxcyte (NASDAQ:PCVX)‘s stock had its “buy” rating restated by analysts at BTIG Research in a report released on Monday, MarketBeat.com reports. They currently have a $89.00 target price on the stock. BTIG Research’s target price points to a potential upside of 35.39% from the stock’s current price.

A number of other brokerages have also recently issued reports on PCVX. Zacks Research raised Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Needham & Company LLC upped their target price on Vaxcyte from $110.00 to $122.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research report on Friday. Bank of America cut their target price on Vaxcyte from $133.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, September 28th. Finally, Guggenheim lifted their price objective on Vaxcyte from $116.00 to $125.00 and gave the company a “buy” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Vaxcyte has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.

Vaxcyte Stock Performance

Shares of NASDAQ PCVX traded down $8.09 during mid-day trading on Monday, reaching $65.73. The company had a trading volume of 4,497,744 shares, compared to its average volume of 1,473,496. Vaxcyte has a twelve month low of $39.87 and a twelve month high of $90.75. The stock’s 50 day moving average is $59.04 and its 200-day moving average is $56.31. The stock has a market capitalization of $9.78 billion, a PE ratio of -8.62 and a beta of 1.23.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.06) by $0.09. During the same period last year, the firm posted ($1.22) EPS. On average, sell-side analysts anticipate that Vaxcyte will post -7.6 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Grant Pickering sold 2,000 shares of Vaxcyte stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $55.65, for a total value of $111,300.00. Following the sale, the chief executive officer owned 133,215 shares of the company’s stock, valued at approximately $7,413,414.75. This trade represents a 1.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jim Wassil sold 2,250 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $56.67, for a total transaction of $127,507.50. Following the transaction, the executive vice president owned 145,435 shares of the company’s stock, valued at approximately $8,241,801.45. This represents a 1.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 55,890 shares of company stock worth $3,111,189. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vaxcyte

A number of institutional investors have recently bought and sold shares of the business. First Light Asset Management LLC raised its position in Vaxcyte by 143.4% during the second quarter. First Light Asset Management LLC now owns 345,157 shares of the company’s stock valued at $20,064,000 after purchasing an additional 203,373 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Vaxcyte in the second quarter valued at approximately $1,906,000. IFP Advisors Inc grew its stake in shares of Vaxcyte by 72.8% in the second quarter. IFP Advisors Inc now owns 560 shares of the company’s stock worth $33,000 after purchasing an additional 236 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Vaxcyte by 4.3% in the second quarter. Arizona State Retirement System now owns 33,755 shares of the company’s stock valued at $1,962,000 after buying an additional 1,394 shares during the period. Finally, Nykredit A S acquired a new position in shares of Vaxcyte in the 2nd quarter worth approximately $280,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Key Vaxcyte News

Here are the key news stories impacting Vaxcyte this week:

• Positive Sentiment: Vaxcyte reported that its 31-valent pneumococcal vaccine candidate, VAX-31, met all prespecified primary endpoints in the pivotal OPUS-1 Phase 3 trial across the age groups studied. The candidate produced immune responses comparable to Pfizer’s Prevnar 20 and/or Merck’s Capvaxive, strengthening the case that VAX-31 could compete in the adult pneumococcal vaccine market. Vaxcyte Reports Positive Topline Data from OPUS-1
• Positive Sentiment: Analysts responded favorably to the late-stage readout. Jefferies described the results as supporting a “blue-sky” scenario and estimated the addressable adult pneumococcal vaccine market at roughly $3 billion to $6 billion or more. Needham raised its price target from $110 to $122 while retaining a Buy rating, and BTIG reaffirmed Buy with an $89 target. Vaxcyte Given New $122 Price Target
• Neutral Sentiment: Trading activity has been elevated following the clinical update. Investors bought 2,615 call options Monday, while 8,093 put options changed hands Tuesday—about 259% above average put volume—suggesting heightened hedging and uncertainty after the sharp move.
• Negative Sentiment: Vaxcyte launched separate offerings for $500 million of common stock and pre-funded warrants and $500 million of convertible senior notes due 2032, with potential over-allotments of up to $75 million for each offering. The financing should bolster resources for development and commercialization, but the equity and warrant issuance creates dilution risk, while the convertible notes add future conversion and debt-related overhang. Vaxcyte Announces Proposed Public Offerings

Vaxcyte Company Profile

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines to help prevent serious bacterial infections. The company uses its cell-free protein synthesis and advanced conjugation technologies to design vaccines intended to provide broad and durable protection while addressing limitations of existing vaccine products.

Vaxcyte’s lead programs are pneumococcal conjugate vaccine candidates, including VAX-24 and VAX-31, which are designed to target a broad range of pneumococcal serotypes.