Vaxcyte, Inc. (NASDAQ:PCVX) Given Consensus Recommendation of “Buy” by Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX) has been given an average rating of “Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $147.50.

A number of analysts have recently commented on PCVX shares. 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 note on Tuesday, September 3rd. Bank of America raised their target price on Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Mizuho boosted their price target on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a report on Wednesday, November 6th. Finally, Leerink Partners upped their target price on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd.

Vaxcyte Trading Up 0.7 %

Vaxcyte stock opened at $91.05 on Thursday. The firm has a market cap of $11.35 billion, a PE ratio of -19.79 and a beta of 0.94. Vaxcyte has a 12 month low of $53.83 and a 12 month high of $121.06. The stock’s 50 day simple moving average is $102.51 and its two-hundred day simple moving average is $91.41.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter in the previous year, the company earned ($0.91) EPS. On average, equities research analysts forecast that Vaxcyte will post -4.14 EPS for the current year.

Insiders Place Their Bets

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total value of $927,520.00. Following the sale, the chief financial officer now owns 90,383 shares in the company, valued at $10,479,005.02. The trade was a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mikhail Eydelman sold 5,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $109.27, for a total transaction of $546,350.00. Following the completion of the transaction, the senior vice president now directly owns 28,623 shares in the company, valued at $3,127,635.21. The trade was a 14.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,830 shares of company stock valued at $12,600,310 in the last three months. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vaxcyte

Several hedge funds and other institutional investors have recently made changes to their positions in PCVX. Janus Henderson Group PLC increased its holdings in shares of Vaxcyte by 23.1% in the 3rd quarter. Janus Henderson Group PLC now owns 10,921,896 shares of the company’s stock valued at $1,247,954,000 after acquiring an additional 2,052,989 shares during the last quarter. RA Capital Management L.P. lifted its stake in Vaxcyte by 5.9% in the third quarter. RA Capital Management L.P. now owns 8,689,190 shares of the company’s stock valued at $992,914,000 after buying an additional 485,436 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Vaxcyte by 47.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,295,837 shares of the company’s stock valued at $148,075,000 after acquiring an additional 419,600 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Vaxcyte during the third quarter worth approximately $41,114,000. Finally, Maverick Capital Ltd. increased its holdings in shares of Vaxcyte by 93.7% in the 2nd quarter. Maverick Capital Ltd. now owns 687,908 shares of the company’s stock valued at $51,944,000 after acquiring an additional 332,777 shares during the period. Hedge funds and other institutional investors own 96.78% 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.