Cantor Fitzgerald Forecasts Higher Earnings for Vaxcyte

Vaxcyte, Inc. (NASDAQ:PCVX) – Equities researchers at Cantor Fitzgerald raised their FY2024 earnings per share estimates for Vaxcyte in a report issued on Wednesday, November 6th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings of ($3.87) per share for the year, up from their prior estimate of ($4.36). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Vaxcyte’s current full-year earnings is ($4.14) per share.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter in the previous year, the company posted ($0.91) EPS.

A number of other brokerages also recently issued reports on PCVX. Jefferies Financial Group increased their target price on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho increased their price objective on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. BTIG Research boosted their target price on shares of Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America upped their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vaxcyte presently has an average rating of “Buy” and an average price target of $147.50.

Vaxcyte Stock Down 4.1 %

Shares of Vaxcyte stock opened at $99.38 on Monday. The firm has a market cap of $12.39 billion, a price-to-earnings ratio of -22.53 and a beta of 1.01. Vaxcyte has a 52-week low of $46.16 and a 52-week high of $121.06. The company’s 50-day simple moving average is $112.01 and its 200-day simple moving average is $87.92.

Insider Activity at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 2,366 shares of Vaxcyte stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $103.89, for a total transaction of $245,803.74. Following the completion of the transaction, the chief executive officer now owns 137,398 shares in the company, valued at approximately $14,274,278.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total transaction of $927,520.00. Following the sale, the chief financial officer now owns 90,383 shares of the company’s stock, valued at $10,479,005.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Grant Pickering sold 2,366 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $103.89, for a total transaction of $245,803.74. Following the completion of the transaction, the chief executive officer now directly owns 137,398 shares of the company’s stock, valued at $14,274,278.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,464 shares of company stock valued at $12,640,276. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Vaxcyte during the first quarter worth approximately $298,000. Swiss National Bank lifted its stake in shares of Vaxcyte by 20.4% during the 1st quarter. Swiss National Bank now owns 178,000 shares of the company’s stock worth $12,159,000 after purchasing an additional 30,100 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Vaxcyte during the first quarter worth $1,288,000. ProShare Advisors LLC grew its position in shares of Vaxcyte by 23.4% in the first quarter. ProShare Advisors LLC now owns 26,667 shares of the company’s stock valued at $1,822,000 after purchasing an additional 5,060 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in Vaxcyte by 9.0% in the first quarter. Westfield Capital Management Co. LP now owns 1,586,095 shares of the company’s stock valued at $108,346,000 after purchasing an additional 130,502 shares during the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

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.