Brokerages Set Vaxcyte, Inc. (NASDAQ:PCVX) Price Target at $136.50

by · The Markets Daily

Vaxcyte, Inc. (NASDAQ:PCVX – Get Free Report) has been given an average rating of “Buy” by the ten ratings firms that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $136.50.

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Vaxcyte in a research report on Tuesday, April 8th. Bank of America lowered their price objective on shares of Vaxcyte from $157.00 to $137.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Cantor Fitzgerald began coverage on shares of Vaxcyte in a research report on Tuesday. They issued an “overweight” rating for the company. Guggenheim reissued a “buy” rating and set a $160.00 price target on shares of Vaxcyte in a report on Wednesday, March 12th. Finally, Evercore ISI raised Vaxcyte to a “strong-buy” rating in a report on Monday, March 31st.

Check Out Our Latest Report on Vaxcyte

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, COO Jim Wassil sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $86.22, for a total transaction of $689,760.00. Following the sale, the chief operating officer now owns 205,695 shares in the company, valued at approximately $17,735,022.90. This trade represents a 3.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 24,000 shares of company stock valued at $1,946,720. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

A number of hedge funds and other institutional investors have recently modified their holdings of PCVX. Avior Wealth Management LLC boosted its holdings in Vaxcyte by 5.3% in the 1st quarter. Avior Wealth Management LLC now owns 6,799 shares of the company’s stock worth $257,000 after buying an additional 343 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Vaxcyte in the first quarter worth about $12,218,000. Handelsbanken Fonder AB grew its position in shares of Vaxcyte by 10.8% during the first quarter. Handelsbanken Fonder AB now owns 34,900 shares of the company’s stock worth $1,318,000 after purchasing an additional 3,400 shares in the last quarter. SG Americas Securities LLC raised its stake in Vaxcyte by 61.3% during the 1st quarter. SG Americas Securities LLC now owns 14,520 shares of the company’s stock valued at $548,000 after purchasing an additional 5,520 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Vaxcyte by 2.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 77,059 shares of the company’s stock worth $2,910,000 after purchasing an additional 2,152 shares in the last quarter. 96.78% of the stock is owned by hedge funds and other institutional investors.

Vaxcyte Stock Up 2.9 %

NASDAQ:PCVX opened at $31.26 on Wednesday. Vaxcyte has a 52 week low of $27.66 and a 52 week high of $121.06. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -6.80 and a beta of 1.26. The company’s 50 day moving average price is $58.56 and its 200-day moving average price is $81.72.

Vaxcyte (NASDAQ:PCVX – Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($1.02) EPS for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.14. As a group, sell-side analysts anticipate that Vaxcyte will post -4.21 earnings per share for the current year.

Vaxcyte Company Profile

(Get Free Report

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.

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