Vaxcyte’s (PCVX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research note published on Wednesday morning, Benzinga reports. They currently have a $140.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the stock. Bank of America raised their price objective 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. Jefferies Financial Group increased their price target on shares of Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. 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, September 3rd. Mizuho raised 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. Finally, Leerink Partners boosted their price objective on Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $147.50.

Vaxcyte Price Performance

PCVX opened at $104.07 on Wednesday. The company’s 50 day simple moving average is $110.06 and its 200-day simple moving average is $86.69. Vaxcyte has a one year low of $46.16 and a one year high of $121.06. The stock has a market capitalization of $11.62 billion, a P/E ratio of -22.62 and a beta of 1.01.

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

Insider Activity at Vaxcyte

In other news, CEO Grant Pickering sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the completion of the transaction, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at $37,822,574.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Grant Pickering sold 15,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jim Wassil sold 8,000 shares of Vaxcyte stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $106.80, for a total value of $854,400.00. Following the completion of the sale, the chief operating officer now directly owns 205,695 shares in the company, valued at approximately $21,968,226. This represents 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 valued at $12,394,473. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Vaxcyte

A number of institutional investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in shares of Vaxcyte in the 1st quarter valued at about $37,000. SG Americas Securities LLC acquired a new stake in shares of Vaxcyte in the first quarter valued at approximately $298,000. ClariVest Asset Management LLC bought a new position in shares of Vaxcyte during the 1st quarter worth approximately $283,000. Swiss National Bank increased its holdings 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 acquiring an additional 30,100 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Vaxcyte during the 1st quarter worth approximately $1,288,000. 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.