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

Vaxcyte, Inc. (NASDAQ:PCVX) has earned an average rating of “Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $136.50.

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

Insider Activity at Vaxcyte

In other news, COO Jim Wassil sold 8,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $86.22, for a total transaction of $689,760.00. Following the sale, the chief operating officer now owns 205,695 shares of the company’s stock, valued at approximately $17,735,022.90. This represents a 3.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 32,000 shares of company stock worth $2,638,800. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Vaxcyte

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Vaxcyte by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 11,961,687 shares of the company’s stock valued at $979,184,000 after purchasing an additional 521,204 shares during the period. Capital Research Global Investors grew its position in shares of Vaxcyte by 26.8% during the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company’s stock worth $508,393,000 after buying an additional 1,312,302 shares in the last quarter. Franklin Resources Inc. raised its holdings in Vaxcyte by 3.0% in the fourth quarter. Franklin Resources Inc. now owns 2,869,332 shares of the company’s stock valued at $234,884,000 after acquiring an additional 82,997 shares in the last quarter. Geode Capital Management LLC lifted its stake in Vaxcyte by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 2,802,888 shares of the company’s stock worth $229,495,000 after acquiring an additional 102,106 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Vaxcyte by 8.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,779,362 shares of the company’s stock worth $145,659,000 after acquiring an additional 133,448 shares during the last quarter. Institutional investors and hedge funds own 96.78% of the company’s stock.

Vaxcyte Stock Up 5.3 %

NASDAQ:PCVX opened at $30.65 on Wednesday. Vaxcyte has a 52 week low of $27.66 and a 52 week high of $121.06. The stock’s 50-day moving average price is $60.72 and its 200-day moving average price is $82.64. The stock has a market capitalization of $3.95 billion, a PE ratio of -6.66 and a beta of 1.26.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.14. Sell-side analysts expect that Vaxcyte will post -4.21 earnings per share for the current fiscal year.

Vaxcyte Company Profile

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.