Vaxcyte (NASDAQ:PCVX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a report issued on Wednesday, Benzinga reports. The firm currently has a $140.00 price objective on the stock.

Other equities analysts also recently issued reports about the stock. Bank of America upped their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. BTIG Research boosted their price target on Vaxcyte from $98.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Mizuho increased their price target on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Leerink Partners lifted their price objective on Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group increased their target price on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Vaxcyte currently has an average rating of “Buy” and a consensus price target of $147.50.

Vaxcyte Stock Down 3.2 %

Shares of PCVX stock opened at $104.07 on Wednesday. Vaxcyte has a 12-month low of $46.16 and a 12-month high of $121.06. The company has a market capitalization of $11.62 billion, a PE ratio of -22.62 and a beta of 1.01. The firm has a 50 day moving average price of $110.06 and a two-hundred day moving average price of $86.69.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.27. During the same period in the prior year, the company earned ($0.91) earnings per share. As a group, research analysts expect that Vaxcyte will post -4.33 EPS for the current year.

Insider Activity

In related news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the completion of the sale, the chief executive officer now directly owns 478,888 shares in the company, valued at $37,822,574.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Grant Pickering sold 15,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $78.98, for a total value of $1,184,700.00. Following the completion of the transaction, the chief executive officer now owns 478,888 shares of the company’s stock, valued at $37,822,574.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Guggenhime sold 8,000 shares of the business’s 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 directly owns 90,383 shares in the company, valued at approximately $10,479,005.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,098 shares of company stock worth $12,394,473. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Vaxcyte

Several hedge funds have recently added to or reduced their stakes in PCVX. Riverview Trust Co acquired a new position in Vaxcyte in the 3rd quarter valued at approximately $27,000. Fifth Third Bancorp bought a new stake in shares of Vaxcyte in the second quarter worth $35,000. Fidelis Capital Partners LLC acquired a new stake in Vaxcyte in the first quarter valued at $37,000. Blue Trust Inc. raised its position in Vaxcyte by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after purchasing an additional 93 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in Vaxcyte by 649.4% during 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 period. 96.78% of the stock is currently owned by institutional investors and hedge funds.

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.