Vaxcyte’s (PCVX) Buy Rating Reaffirmed at Guggenheim

Guggenheim reiterated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $160.00 price target on the stock.

Several other equities research analysts have also issued reports on PCVX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a research note on Wednesday, November 6th. The Goldman Sachs Group started coverage on Vaxcyte in a research note on Friday, December 20th. They issued a “buy” rating and a $135.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research note on Wednesday. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $147.50.

Vaxcyte Price Performance

NASDAQ:PCVX opened at $73.02 on Wednesday. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of -15.87 and a beta of 0.98. Vaxcyte has a 1 year low of $58.10 and a 1 year high of $121.06. The business has a 50 day simple moving average of $84.59 and a 200-day simple moving average of $94.71.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($1.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.16) by $0.14. As a group, analysts expect that Vaxcyte will post -4.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vaxcyte news, Director Teri Loxam sold 6,250 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.11, for a total transaction of $531,937.50. Following the transaction, the director now directly owns 7,175 shares in the company, valued at $610,664.25. This trade represents a 46.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $88.78, for a total value of $710,240.00. Following the transaction, the chief financial officer now owns 109,491 shares in the company, valued at $9,720,610.98. The trade was a 6.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 76,616 shares of company stock valued at $6,766,481. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC increased its holdings in Vaxcyte by 61.1% during the 3rd quarter. Natixis Advisors LLC now owns 22,697 shares of the company’s stock worth $2,594,000 after purchasing an additional 8,606 shares during the period. Diversified Trust Co purchased a new position in Vaxcyte during the 4th quarter worth $1,433,000. Lisanti Capital Growth LLC increased its holdings in Vaxcyte by 68.1% during the 3rd quarter. Lisanti Capital Growth LLC now owns 32,515 shares of the company’s stock worth $3,715,000 after purchasing an additional 13,175 shares during the period. WCM Investment Management LLC increased its holdings in Vaxcyte by 52.6% during the 3rd quarter. WCM Investment Management LLC now owns 140,847 shares of the company’s stock worth $15,935,000 after purchasing an additional 48,543 shares during the period. Finally, Curi RMB Capital LLC purchased a new position in Vaxcyte during the 3rd quarter worth $903,000. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

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.