Brokerages Set Vaxcyte, Inc. (NASDAQ:PCVX) Price Target at $94.50

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) have received an average rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $94.50.

Several equities analysts have recently issued reports on PCVX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research note on Friday, January 9th. Guggenheim reaffirmed a “buy” rating and issued a $116.00 target price on shares of Vaxcyte in a report on Monday, February 2nd. Leerink Partners set a $77.00 price target on shares of Vaxcyte and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Needham & Company LLC boosted their price target on shares of Vaxcyte from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, BTIG Research boosted their price target on shares of Vaxcyte from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th.

Insider Buying and Selling at Vaxcyte

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PCVX. Caitong International Asset Management Co. Ltd raised its position in shares of Vaxcyte by 1,924.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 830 shares of the company’s stock worth $38,000 after acquiring an additional 789 shares in the last quarter. Seven Fleet Capital Management LP acquired a new position in Vaxcyte in the fourth quarter valued at approximately $1,170,000. T. Rowe Price Investment Management Inc. boosted its holdings in Vaxcyte by 35.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock valued at $521,213,000 after purchasing an additional 2,981,038 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Vaxcyte in the fourth quarter valued at approximately $1,389,000. Finally, Vident Advisory LLC increased its stake in Vaxcyte by 12.9% in the fourth quarter. Vident Advisory LLC now owns 8,821 shares of the company’s stock valued at $407,000 after purchasing an additional 1,007 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Trading Up 0.1%

Shares of NASDAQ PCVX opened at $59.32 on Friday. The stock has a market cap of $8.54 billion, a P/E ratio of -10.56 and a beta of 1.31. The business’s fifty day simple moving average is $53.24 and its 200-day simple moving average is $45.29. Vaxcyte has a 12-month low of $27.66 and a 12-month high of $76.61.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, February 24th. The company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.46) by ($0.34). During the same period in the previous year, the business earned ($1.12) earnings per share. On average, equities analysts forecast 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.