Brokerages Set Vaxcyte, Inc. (NASDAQ:PCVX) Price Target at $86.00

Vaxcyte, Inc. (NASDAQ:PCVXGet Free Report) has been given an average rating of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $86.00.

A number of analysts recently issued reports on the company. BTIG Research upped their target price on Vaxcyte from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reissued a “buy” rating on shares of Vaxcyte in a research report on Tuesday, March 10th. Guggenheim reissued a “buy” rating and issued a $116.00 target price on shares of Vaxcyte in a research report on Monday, February 2nd. Wall Street Zen cut Vaxcyte from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a research report on Wednesday, April 8th.

Read Our Latest Analysis on PCVX

Insider Transactions at Vaxcyte

In related news, COO Jim Wassil sold 2,250 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $56.83, for a total value of $127,867.50. Following the completion of the sale, the chief operating officer directly owned 160,744 shares of the company’s stock, valued at $9,135,081.52. This represents a 1.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Elvia Cowan sold 3,000 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $60.00, for a total value of $180,000.00. Following the sale, the chief accounting officer directly owned 28,975 shares of the company’s stock, valued at $1,738,500. The trade was a 9.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 17,037 shares of company stock valued at $994,899. Insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its position in 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 during the period. Vanguard Group Inc. lifted its position in Vaxcyte by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 12,320,453 shares of the company’s stock worth $443,783,000 after acquiring an additional 323,368 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in 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 worth $521,213,000 after acquiring an additional 2,981,038 shares during the period. Wellington Management Group LLP lifted its position in Vaxcyte by 18.5% during the 4th quarter. Wellington Management Group LLP now owns 5,966,310 shares of the company’s stock worth $275,286,000 after acquiring an additional 933,539 shares during the period. Finally, State Street Corp lifted its position in Vaxcyte by 4.1% during the 4th quarter. State Street Corp now owns 4,980,005 shares of the company’s stock worth $229,777,000 after acquiring an additional 194,116 shares during the period. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Stock Performance

PCVX opened at $47.30 on Thursday. Vaxcyte has a one year low of $29.08 and a one year high of $65.00. The company has a market cap of $6.83 billion, a P/E ratio of -6.87 and a beta of 1.30. The business’s 50-day simple moving average is $56.25 and its 200-day simple moving average is $52.46.

Vaxcyte (NASDAQ:PCVXGet Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.30) EPS for the quarter, missing analysts’ consensus estimates of ($1.74) by ($0.56). During the same quarter last year, the firm posted ($1.04) earnings per share. As a group, analysts predict that Vaxcyte will post -7.85 earnings per share for the current fiscal year.

Vaxcyte Company Profile

(Get Free Report)

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.

Further Reading

Analyst Recommendations for Vaxcyte (NASDAQ:PCVX)

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