Vaxcyte FY2024 EPS Estimate Increased by Cantor Fitzgerald

Vaxcyte, Inc. (NASDAQ:PCVX) – Equities research analysts at Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of Vaxcyte in a report issued on Wednesday, November 6th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn ($3.87) per share for the year, up from their prior forecast of ($4.36). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Vaxcyte’s current full-year earnings is ($4.14) per share.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter last year, the business posted ($0.91) earnings per share.

A number of other analysts also recently weighed in on PCVX. Bank of America raised their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Jefferies Financial Group boosted their target price on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. BTIG Research increased their price target on shares of Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a report on Wednesday, November 6th. Finally, Mizuho lifted their target price on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vaxcyte currently has a consensus rating of “Buy” and an average target price of $147.50.

Vaxcyte Stock Performance

NASDAQ:PCVX opened at $103.64 on Monday. Vaxcyte has a one year low of $46.16 and a one year high of $121.06. The business’s 50-day simple moving average is $112.01 and its 200 day simple moving average is $87.92. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of -22.53 and a beta of 1.01.

Institutional Trading of Vaxcyte

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Vaxcyte by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 9,737,254 shares of the company’s stock worth $665,152,000 after acquiring an additional 1,284,883 shares during the period. RA Capital Management L.P. increased its stake in shares of Vaxcyte by 4.0% in the first quarter. RA Capital Management L.P. now owns 8,203,754 shares of the company’s stock worth $560,398,000 after purchasing an additional 312,500 shares during the period. Janus Henderson Group PLC lifted its position in shares of Vaxcyte by 9.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,673,868 shares of the company’s stock worth $524,117,000 after purchasing an additional 692,492 shares during the last quarter. Capital Research Global Investors boosted its stake in Vaxcyte by 20.4% during the 1st quarter. Capital Research Global Investors now owns 4,140,521 shares of the company’s stock valued at $282,839,000 after purchasing an additional 700,414 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Vaxcyte by 18.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,176,181 shares of the company’s stock valued at $216,966,000 after buying an additional 498,359 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Elvia Cowan sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total value of $538,350.00. Following the completion of the sale, the senior vice president now directly owns 12,723 shares of the company’s stock, valued at $1,369,885.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Elvia Cowan sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total value of $538,350.00. Following the completion of the sale, the senior vice president now directly owns 12,723 shares in the company, valued at approximately $1,369,885.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Grant Pickering sold 15,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the transaction, the chief executive officer now directly owns 478,888 shares in the company, valued at $37,822,574.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,464 shares of company stock worth $12,640,276. Corporate insiders own 3.10% of the company’s stock.

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.