Brokerages Set Vaxcyte, Inc. (NASDAQ:PCVX) PT at $86.00

Vaxcyte, Inc. (NASDAQ:PCVX) has been given an average recommendation of “Moderate Buy” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $86.00.

Several brokerages have recently weighed in on PCVX. Jefferies Financial Group reaffirmed a “buy” rating on shares of Vaxcyte in a report on Tuesday, March 10th. Guggenheim reissued a “buy” rating and set a $116.00 target price on shares of Vaxcyte in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a report on Friday, January 9th. BTIG Research increased their price objective on Vaxcyte from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Finally, Needham & Company LLC raised their target price on Vaxcyte from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, January 7th.

Insider Transactions at Vaxcyte

In related news, CAO Elvia Cowan sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $58.59, for a total value of $146,475.00. Following the completion of the sale, the chief accounting officer owned 30,867 shares in the company, valued at $1,808,497.53. This trade represents a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jim Wassil sold 7,395 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $58.88, for a total value of $435,417.60. Following the sale, the chief operating officer owned 166,818 shares in the company, valued at approximately $9,822,243.84. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,787 shares of company stock valued at $687,031 in the last quarter. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Vaxcyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its position in 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 purchasing an additional 789 shares in the last quarter. Seven Fleet Capital Management LP purchased a new position in shares of Vaxcyte during the fourth quarter valued at approximately $1,170,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Vaxcyte by 35.9% during 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 buying an additional 2,981,038 shares during the period. Alberta Investment Management Corp acquired a new stake in Vaxcyte during the fourth quarter worth approximately $1,389,000. Finally, Vident Advisory LLC grew its stake in Vaxcyte by 12.9% in the 4th quarter. Vident Advisory LLC now owns 8,821 shares of the company’s stock worth $407,000 after acquiring an additional 1,007 shares during the period. Institutional investors and hedge funds own 96.78% of the company’s stock.

Vaxcyte Price Performance

NASDAQ:PCVX opened at $58.38 on Wednesday. The company has a market capitalization of $8.40 billion, a PE ratio of -10.39 and a beta of 1.38. Vaxcyte has a 52-week low of $27.66 and a 52-week high of $65.00. The stock’s 50 day moving average price is $56.54 and its 200 day moving average price is $48.31.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.46) by ($0.34). During the same quarter in the prior year, the firm posted ($1.12) earnings per share. As a group, sell-side 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.