Vaxcyte (NASDAQ:PCVX) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Vaxcyte (NASDAQ:PCVX) posted its earnings results on Tuesday. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27, Briefing.com reports. During the same quarter last year, the firm posted ($0.91) EPS.

Vaxcyte Stock Down 2.9 %

Shares of PCVX stock traded down $3.09 during mid-day trading on Wednesday, reaching $104.47. 2,042,368 shares of the stock traded hands, compared to its average volume of 834,194. The company has a market cap of $11.66 billion, a price-to-earnings ratio of -22.92 and a beta of 1.01. The stock’s fifty day simple moving average is $109.48 and its two-hundred day simple moving average is $86.36. Vaxcyte has a 1-year low of $46.16 and a 1-year high of $121.06.

Insider Activity

In related news, SVP Elvia Cowan sold 5,000 shares of Vaxcyte stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total transaction of $538,350.00. Following the sale, the senior vice president now directly owns 12,723 shares in the company, valued at $1,369,885.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 value of $538,350.00. Following the sale, the senior vice president now directly owns 12,723 shares in the company, valued at $1,369,885.41. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of Vaxcyte stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the sale, the chief financial officer now owns 90,383 shares of the company’s stock, valued at approximately $10,479,005.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,098 shares of company stock valued at $12,394,473 over the last quarter. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price target on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Leerink Partners raised their price target on Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. BTIG Research upped their price objective 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. Mizuho increased their price target on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of Vaxcyte in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $147.50.

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.