Leerink Partnrs Has Negative View of Vaxcyte FY2029 Earnings

Vaxcyte, Inc. (NASDAQ:PCVX) – Stock analysts at Leerink Partnrs decreased their FY2029 earnings estimates for shares of Vaxcyte in a research report issued to clients and investors on Wednesday, May 7th. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings of $0.35 per share for the year, down from their prior estimate of $0.46. The consensus estimate for Vaxcyte’s current full-year earnings is ($4.21) per share.

PCVX has been the subject of a number of other reports. Evercore ISI raised shares of Vaxcyte to a “strong-buy” rating in a research note on Monday, March 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Vaxcyte in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price on shares of Vaxcyte from $138.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Bank of America decreased their price objective on shares of Vaxcyte from $157.00 to $137.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Finally, Cantor Fitzgerald started coverage on Vaxcyte in a research report on Tuesday, April 22nd. They issued an “overweight” rating on the stock. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $136.50.

Vaxcyte Price Performance

Shares of PCVX opened at $31.16 on Friday. Vaxcyte has a 1 year low of $27.66 and a 1 year high of $121.06. The business’s 50 day simple moving average is $46.66 and its 200-day simple moving average is $74.46. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of -6.77 and a beta of 1.27.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.02). During the same period in the prior year, the firm earned ($0.85) EPS.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Whipplewood Advisors LLC acquired a new stake in shares of Vaxcyte in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its stake in shares of Vaxcyte by 188.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock worth $33,000 after purchasing an additional 260 shares during the period. National Bank of Canada FI purchased a new stake in Vaxcyte in the 4th quarter valued at about $41,000. Blue Trust Inc. increased its position in Vaxcyte by 100.0% during the fourth quarter. Blue Trust Inc. now owns 742 shares of the company’s stock worth $61,000 after purchasing an additional 371 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Vaxcyte by 203.6% in the 1st quarter. Parallel Advisors LLC now owns 1,597 shares of the company’s stock worth $61,000 after buying an additional 1,071 shares during the period. Hedge funds and other institutional investors own 96.78% of the company’s stock.

Insider Buying and Selling

In related news, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $83.85, for a total transaction of $670,800.00. Following the transaction, the chief financial officer now owns 109,491 shares in the company, valued at $9,180,820.35. This trade represents a 6.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

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.