Vaxcyte, Inc. (NASDAQ:PCVX) Stock Has Consensus Price Target of $98.00 According to Brokerages

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $98.00.

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vaxcyte in a research note on Monday, July 6th. Wall Street Zen upgraded Vaxcyte from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $110.00 target price on shares of Vaxcyte in a research note on Friday.

Vaxcyte Trading Down 1.2%

PCVX stock opened at $56.21 on Wednesday. The firm has a 50-day moving average of $58.58 and a two-hundred day moving average of $56.19. Vaxcyte has a 12 month low of $31.89 and a 12 month high of $65.00. The company has a market cap of $8.36 billion, a price-to-earnings ratio of -7.37 and a beta of 1.22.

Vaxcyte (NASDAQ:PCVX) last announced 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 quarter in the previous year, the business posted ($1.22) earnings per share. As a group, equities analysts forecast that Vaxcyte will post -7.6 earnings per share for the current year.

Insider Transactions at Vaxcyte

In other news, COO Jim Wassil sold 3,477 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $61.07, for a total value of $212,340.39. Following the completion of the transaction, the chief operating officer owned 155,041 shares of the company’s stock, valued at approximately $9,468,353.87. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Grant Pickering sold 16,198 shares of Vaxcyte stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.63, for a total transaction of $901,094.74. Following the completion of the transaction, the chief executive officer owned 453,247 shares of the company’s stock, valued at $25,214,130.61. This trade represents a 3.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 65,890 shares of company stock valued at $3,683,224. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Vaxcyte

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCVX. IFP Advisors Inc increased its position in shares of Vaxcyte by 72.8% during the second quarter. IFP Advisors Inc now owns 560 shares of the company’s stock worth $33,000 after acquiring an additional 236 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Vaxcyte by 33.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $34,000 after purchasing an additional 184 shares during the period. Caitong International Asset Management Co. Ltd grew its stake 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. Capital Advisors Ltd. LLC acquired a new position in Vaxcyte during the 1st quarter worth $58,000. Finally, Allworth Financial LP purchased a new stake in Vaxcyte during the 2nd quarter worth about $75,000. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Company Profile

Vaxcyte, Inc is a clinical-stage biotechnology company focused on developing vaccines to prevent serious bacterial infections. The company’s lead programs target pneumococcal disease, which can cause pneumonia, meningitis, bloodstream infections and other invasive illnesses. Vaxcyte is developing broad-spectrum pneumococcal conjugate vaccine candidates designed to protect against a wide range of bacterial serotypes.

Vaxcyte’s pipeline has included VAX-24, an investigational 24-valent pneumococcal conjugate vaccine, and VAX-31, a next-generation candidate designed to cover 31 serotypes.