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

BTIG Research restated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research note released on Monday morning,Benzinga reports. BTIG Research currently has a $85.00 price objective on the stock.

PCVX has been the subject of several other research reports. Cowen reaffirmed a “buy” rating on shares of Vaxcyte in a research report on Thursday, August 7th. The Goldman Sachs Group began coverage on shares of Vaxcyte in a research note on Friday, September 12th. They set a “neutral” rating and a $38.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Vaxcyte currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Vaxcyte Price Performance

PCVX stock opened at $46.10 on Monday. The company’s 50-day moving average is $38.90 and its 200-day moving average is $35.26. The stock has a market capitalization of $6.03 billion, a PE ratio of -9.52 and a beta of 1.07. Vaxcyte has a 1 year low of $27.66 and a 1 year high of $100.68.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in Vaxcyte by 5.5% during the first quarter. Rhumbline Advisers now owns 181,230 shares of the company’s stock valued at $6,843,000 after purchasing an additional 9,416 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Vaxcyte by 32.8% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 102,362 shares of the company’s stock worth $3,328,000 after acquiring an additional 25,303 shares during the period. Intech Investment Management LLC grew its stake in shares of Vaxcyte by 44.3% during the 1st quarter. Intech Investment Management LLC now owns 89,212 shares of the company’s stock worth $3,369,000 after acquiring an additional 27,384 shares during the period. Strs Ohio purchased a new stake in Vaxcyte in the 1st quarter worth about $627,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Vaxcyte by 5.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,110 shares of the company’s stock valued at $459,000 after acquiring an additional 772 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

About Vaxcyte

Vaxcyte, Inc, a clinical-stage biotechnology vaccine company, develops novel protein vaccines to prevent or treat bacterial infectious diseases. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease. The company also develops VAX-31 to protect against emerging strains and to help address antibiotic resistance; VAX-A1, a novel conjugate vaccine candidate to prevent disease caused by Group A Streptococcus; VAX-PG, a novel protein vaccine candidate targeting keystone pathogen responsible for periodontitis; and VAX-GI to prevent Shigella, a bacterial illness.