Vaxcyte (NASDAQ:PCVX) Reaches New 12-Month High Following Analyst Upgrade

Vaxcyte, Inc. (NASDAQ:PCVX) hit a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $113.00 to $163.00. Mizuho currently has an outperform rating on the stock. Vaxcyte traded as high as $119.50 and last traded at $117.95, with a volume of 345356 shares trading hands. The stock had previously closed at $115.28.

A number of other brokerages have also recently commented on PCVX. Needham & Company LLC increased their price target on shares of Vaxcyte from $95.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Leerink Partners increased their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research report on Tuesday, September 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a research report on Thursday, June 20th. Bank of America raised their target price on shares of Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Jefferies Financial Group raised their target price on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $147.50.

Insider Activity at Vaxcyte

In related news, SVP Mikhail Eydelman sold 1,667 shares of Vaxcyte stock in a transaction on Monday, July 1st. The shares were sold at an average price of $76.37, for a total value of $127,308.79. Following the sale, the senior vice president now owns 30,826 shares in the company, valued at $2,354,181.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction on Monday, June 24th. The shares were sold at an average price of $75.64, for a total value of $1,134,600.00. Following the sale, the chief executive officer now owns 478,888 shares in the company, valued at $36,223,088.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Mikhail Eydelman sold 1,667 shares of Vaxcyte stock in a transaction on Monday, July 1st. The shares were sold at an average price of $76.37, for a total transaction of $127,308.79. Following the completion of the sale, the senior vice president now owns 30,826 shares in the company, valued at approximately $2,354,181.62. The disclosure for this sale can be found here. Insiders have sold a total of 85,283 shares of company stock worth $7,271,218 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Vaxcyte

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in Vaxcyte by 12.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 481,119 shares of the company’s stock valued at $30,214,000 after buying an additional 52,005 shares during the period. Natixis Advisors L.P. purchased a new position in Vaxcyte during the fourth quarter valued at $881,000. Vestal Point Capital LP purchased a new position in Vaxcyte during the fourth quarter valued at $32,970,000. Harbor Capital Advisors Inc. lifted its position in Vaxcyte by 392.4% during the second quarter. Harbor Capital Advisors Inc. now owns 40,342 shares of the company’s stock valued at $3,046,000 after buying an additional 32,149 shares during the period. Finally, TD Asset Management Inc lifted its position in Vaxcyte by 10.5% during the fourth quarter. TD Asset Management Inc now owns 167,036 shares of the company’s stock valued at $10,490,000 after buying an additional 15,890 shares during the period. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Vaxcyte Price Performance

The firm has a market cap of $12.93 billion, a PE ratio of -27.39 and a beta of 0.97. The firm has a 50-day simple moving average of $82.56 and a 200 day simple moving average of $73.83.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.04. During the same period in the previous year, the business posted ($0.70) earnings per share. Sell-side analysts forecast that Vaxcyte, Inc. will post -4.33 earnings per share for the current fiscal year.

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.