Vaxcyte (NASDAQ:PCVX – Get Free Report)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a report released on Monday, Benzinga reports. They currently have a $89.00 target price on the stock. BTIG Research’s price objective points to a potential upside of 20.13% from the stock’s current price.
PCVX has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research note on Friday. Guggenheim raised their target price on shares of Vaxcyte from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC upped their price target on shares of Vaxcyte from $110.00 to $122.00 and gave the company a “buy” rating in a research report on Monday. Zacks Research raised shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen upgraded Vaxcyte from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.60.
Get Our Latest Stock Analysis on Vaxcyte
Vaxcyte Stock Performance
Vaxcyte (NASDAQ:PCVX – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. During the same period last year, the firm earned ($1.22) earnings per share. On average, research analysts expect that Vaxcyte will post -7.6 EPS for the current year.
Insider Transactions at Vaxcyte
In related news, insider Harpreet Dhaliwal sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total value of $935,000.00. Following the completion of the sale, the insider owned 76,756 shares of the company’s stock, valued at approximately $4,221,580. The trade was a 18.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $55.65, for a total transaction of $111,300.00. Following the transaction, the chief executive officer directly owned 133,215 shares in the company, valued at approximately $7,413,414.75. The trade was a 1.48% 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. Insiders have sold 55,890 shares of company stock valued at $3,111,189 in the last quarter. Corporate insiders own 3.30% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of PCVX. Jupiter Topco LLC acquired a new stake in shares of Vaxcyte in the 2nd quarter valued at $1,044,355,000. Janus Henderson Group PLC boosted its stake in shares of Vaxcyte by 23.8% during the 1st quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company’s stock worth $960,231,000 after acquiring an additional 3,188,687 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Vaxcyte during the 2nd quarter worth about $701,520,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Vaxcyte by 35.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock valued at $521,213,000 after acquiring an additional 2,981,038 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Vaxcyte by 24.7% in the 2nd quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company’s stock valued at $407,001,000 after acquiring an additional 1,386,968 shares in the last quarter. Institutional investors own 96.78% of the company’s stock.
Key Stories Impacting Vaxcyte
Here are the key news stories impacting Vaxcyte this week:
- Positive Sentiment: VAX-31 met all prespecified primary endpoints across the adult age groups studied, demonstrating immune responses comparable with Pfizer’s Prevnar 20 and/or Merck’s Capvaxive. The results support VAX-31’s potential to compete in the adult pneumococcal vaccine market. Vaxcyte Reports Positive Topline Data from OPUS-1
- Positive Sentiment: The broad vaccine coverage and strong immune responses could position VAX-31 to capture meaningful share of an estimated $3 billion to $6 billion—or larger—adult pneumococcal vaccine market, according to Jefferies commentary. Vaxcyte shares surge on late-stage vaccine trial success
- Positive Sentiment: Analyst sentiment strengthened after the data release. Needham raised its price target to $122 from $110 and maintained a Buy rating, while BTIG reaffirmed its Buy rating with an $89 target. These targets imply substantial upside based on the reported trading level. Needham raises Vaxcyte price target
- Positive Sentiment: Options activity was elevated, with investors purchasing 2,615 call options, about 17% above typical volume, indicating increased speculative interest following the clinical readout.
- Neutral Sentiment: Vaxcyte scheduled an investor webcast and conference call to present the OPUS-1 topline results, giving investors an opportunity to review the safety, tolerability and immunogenicity data in greater detail. Vaxcyte OPUS-1 webcast announcement
Vaxcyte Company Profile
Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing vaccines to help prevent serious bacterial infections. The company uses its cell-free protein synthesis and advanced conjugation technologies to design vaccines intended to provide broad and durable protection while addressing limitations of existing vaccine products.
Vaxcyte’s lead programs are pneumococcal conjugate vaccine candidates, including VAX-24 and VAX-31, which are designed to target a broad range of pneumococcal serotypes.
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