Vaxcyte, Inc. (NASDAQ:PCVX) Receives $136.50 Consensus Target Price from Analysts

Vaxcyte, Inc. (NASDAQ:PCVX) has received an average rating of “Buy” from the ten research firms that are presently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $136.50.

Several equities analysts have weighed in on the company. Bank of America reduced their price objective on Vaxcyte from $157.00 to $137.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Guggenheim reiterated a “buy” rating and issued a $160.00 price objective on shares of Vaxcyte in a research report on Wednesday, March 12th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Vaxcyte in a report on Tuesday, April 8th. The Goldman Sachs Group cut their price objective on Vaxcyte from $138.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Finally, Evercore ISI upgraded shares of Vaxcyte to a “strong-buy” rating in a report on Monday, March 31st.

Hedge Funds Weigh In On Vaxcyte

Several large investors have recently made changes to their positions in PCVX. Wells Fargo & Company MN raised its holdings in shares of Vaxcyte by 53.7% in the 4th quarter. Wells Fargo & Company MN now owns 72,275 shares of the company’s stock valued at $5,916,000 after purchasing an additional 25,257 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of Vaxcyte by 53.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 413,637 shares of the company’s stock worth $33,860,000 after acquiring an additional 144,516 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Vaxcyte by 70.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 593,523 shares of the company’s stock worth $49,418,000 after acquiring an additional 246,049 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Vaxcyte by 188.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock worth $33,000 after acquiring an additional 260 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Vaxcyte by 4.7% in the fourth quarter. Rhumbline Advisers now owns 171,814 shares of the company’s stock valued at $14,065,000 after purchasing an additional 7,711 shares during the period. 96.78% of the stock is currently owned by institutional investors and hedge funds.

Vaxcyte Price Performance

Shares of NASDAQ PCVX opened at $37.20 on Thursday. Vaxcyte has a fifty-two week low of $27.66 and a fifty-two week high of $121.06. The business has a fifty day moving average price of $32.33 and a two-hundred day moving average price of $64.42. The stock has a market capitalization of $4.80 billion, a PE ratio of -8.09 and a beta of 1.20.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). During the same quarter in the prior year, the business earned ($0.85) earnings per share. On average, equities analysts expect that Vaxcyte will post -4.21 EPS for the current year.

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.