Vaxcyte, Inc. (NASDAQ:PCVX) Given Average Recommendation of "Buy" by Brokerages

Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) has been given a consensus recommendation of "Buy" by the ten analysts that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $136.50.

A number of research firms have weighed in on PCVX. The Goldman Sachs Group cut their price objective on shares of Vaxcyte from $138.00 to $100.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Bank of America cut their price objective on shares of Vaxcyte from $157.00 to $137.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Needham & Company LLC reissued a "buy" rating and set a $90.00 price objective on shares of Vaxcyte in a report on Tuesday, April 8th. Guggenheim reissued a "buy" rating and set a $160.00 price objective on shares of Vaxcyte in a report on Wednesday, March 12th. Finally, Cantor Fitzgerald began coverage on shares of Vaxcyte in a report on Tuesday, April 22nd. They set an "overweight" rating on the stock.

Hedge Funds Weigh In On Vaxcyte

Institutional investors have recently modified their holdings of the business. RA Capital Management L.P. grew its position in Vaxcyte by 40.3% in the 1st quarter. RA Capital Management L.P. now owns 12,189,149 shares of the company's stock valued at $460,262,000 after buying an additional 3,499,959 shares during the last quarter. Wellington Management Group LLP grew its position in Vaxcyte by 44.4% in the 1st quarter. Wellington Management Group LLP now owns 6,416,930 shares of the company's stock valued at $242,303,000 after buying an additional 1,972,918 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Vaxcyte by 26.8% during the 4th quarter. Capital Research Global Investors now owns 6,210,523 shares of the company's stock worth $508,393,000 after purchasing an additional 1,312,302 shares in the last quarter. Norges Bank acquired a new position in shares of Vaxcyte during the 4th quarter worth $90,069,000. Finally, Baker BROS. Advisors LP grew its stake in shares of Vaxcyte by 1,211.0% during the 1st quarter. Baker BROS. Advisors LP now owns 640,885 shares of the company's stock worth $24,200,000 after purchasing an additional 592,000 shares during the period. 96.78% of the stock is owned by institutional investors and hedge funds.

Vaxcyte Stock Down 0.9%

Shares of NASDAQ:PCVX opened at $32.58 on Monday. The firm's 50 day moving average price is $33.26 and its 200 day moving average price is $58.76. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -8.17 and a beta of 1.20. 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 issued its earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.02). During the same quarter in the previous year, the business earned ($0.85) EPS. On average, equities analysts anticipate that Vaxcyte will post -4.21 EPS for the current year.

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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