Vaxcyte, Inc. (NASDAQ:PCVX) Receives $112.25 Average Price Target from Brokerages

Shares of Vaxcyte, Inc. (NASDAQ:PCVX) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have covered the stock in the last year is $131.83.

A number of research firms have recently issued reports on PCVX. Leerink Partners upped their price objective on Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a report on Tuesday. Bank of America upped their price objective on Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. BTIG Research boosted their target price on Vaxcyte from $98.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC boosted their target price on Vaxcyte from $95.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Vaxcyte in a research note on Thursday, June 20th.

Vaxcyte Trading Up 2.7 %

PCVX opened at $112.10 on Tuesday. The stock has a 50-day moving average price of $81.08 and a 200-day moving average price of $73.28. Vaxcyte has a 12-month low of $44.20 and a 12-month high of $119.27. The stock has a market capitalization of $12.20 billion, a P/E ratio of -26.19 and a beta of 0.97.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). During the same period in the previous year, the firm posted ($0.70) earnings per share. On average, equities research analysts predict that Vaxcyte will post -4.33 EPS for the current year.

Insider Activity

In other Vaxcyte news, SVP Elvia Cowan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $107.67, for a total transaction of $538,350.00. Following the completion of the transaction, the senior vice president now owns 12,723 shares of the company’s stock, valued at approximately $1,369,885.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vaxcyte news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $75.64, for a total transaction of $1,134,600.00. Following the completion of the transaction, the chief executive officer now owns 478,888 shares of the company’s stock, valued at approximately $36,223,088.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Elvia Cowan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total value of $538,350.00. Following the transaction, the senior vice president now directly owns 12,723 shares of the company’s stock, valued at approximately $1,369,885.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,283 shares of company stock valued at $7,271,218. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of Vaxcyte by 155.3% in the 4th quarter. Parallel Advisors LLC now owns 411 shares of the company’s stock worth $26,000 after acquiring an additional 250 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of Vaxcyte in the 2nd quarter worth approximately $35,000. Fidelis Capital Partners LLC purchased a new stake in shares of Vaxcyte in the 1st quarter worth approximately $37,000. J.Safra Asset Management Corp grew its stake in shares of Vaxcyte by 649.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 607 shares of the company’s stock worth $46,000 after buying an additional 526 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Vaxcyte in the 2nd quarter worth approximately $70,000. 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.