The Goldman Sachs Group Begins Coverage on Vaxcyte (NASDAQ:PCVX)

Key Points

• The Goldman Sachs Group has initiated coverage on Vaxcyte (NASDAQ:PCVX) with a "neutral" rating and a price target of $38.00, indicating a potential upside of 14.94% from its current price.
• Cowen maintains a "buy" rating for Vaxcyte, contributing to a consensus rating of "Buy" among analysts, which includes one Strong Buy and five Buy ratings.
• Vaxcyte recently reported earnings of ($1.22) per share for the quarter, falling short of the consensus estimate of ($1.12), reflecting the company's financial challenges as it focuses on developing novel vaccines.

Research analysts at The Goldman Sachs Group initiated coverage on shares of Vaxcyte (NASDAQ:PCVX - Get Free Report) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set a "neutral" rating and a $38.00 price target on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 14.94% from the company's current price.

Separately, Cowen restated a "buy" rating on shares of Vaxcyte in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $106.25.

Vaxcyte Stock Up 3.3%

PCVX stock opened at $33.06 on Friday. The business has a 50 day moving average price of $33.18 and a 200 day moving average price of $39.61. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -8.04 and a beta of 1.04. Vaxcyte has a fifty-two week low of $27.66 and a fifty-two week high of $121.06.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.10). During the same period in the previous year, the firm posted ($1.10) earnings per share. As a group, sell-side analysts anticipate that Vaxcyte will post -4.21 EPS for the current year.

Hedge Funds Weigh In On Vaxcyte

Institutional investors have recently bought and sold shares of the company. AlphaQuest LLC acquired a new position in Vaxcyte in the 1st quarter valued at $33,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Vaxcyte during the first quarter worth $35,000. Parallel Advisors LLC grew its holdings in Vaxcyte by 203.6% during the first quarter. Parallel Advisors LLC now owns 1,597 shares of the company's stock worth $61,000 after acquiring an additional 1,071 shares during the period. IFP Advisors Inc grew its holdings in Vaxcyte by 376.4% during the first quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock worth $62,000 after acquiring an additional 1,306 shares during the period. Finally, CWM LLC grew its holdings in Vaxcyte by 197.3% during the second quarter. CWM LLC now owns 1,680 shares of the company's stock worth $55,000 after acquiring an additional 1,115 shares during the period. 96.78% of the stock is 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.

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