Vaxcyte, Inc. (NASDAQ:PCVX) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) have been assigned an average rating of "Buy" from the ten analysts that are currently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $136.50.

A number of research analysts have commented on PCVX shares. Evercore ISI raised Vaxcyte to a "strong-buy" rating in a research report on Monday, March 31st. The Goldman Sachs Group decreased their target price on Vaxcyte from $138.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Bank of America dropped their price target on Vaxcyte from $157.00 to $137.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Cantor Fitzgerald started coverage on shares of Vaxcyte in a research report on Tuesday, April 22nd. They set an "overweight" rating on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 target price on shares of Vaxcyte in a research report on Tuesday, April 8th.

Vaxcyte Stock Up 6.3%

Shares of NASDAQ PCVX traded up $2.19 during midday trading on Thursday, reaching $36.99. The company had a trading volume of 1,582,489 shares, compared to its average volume of 1,954,401. The stock has a market cap of $4.77 billion, a PE ratio of -8.04 and a beta of 1.20. Vaxcyte has a one year low of $27.66 and a one year high of $121.06. The firm's fifty day moving average price is $32.17 and its 200-day moving average price is $65.43.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last announced its quarterly earnings data 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 company posted ($0.85) earnings per share. As a group, equities research analysts expect that Vaxcyte will post -4.21 EPS for the current year.

Institutional Trading of Vaxcyte

A number of hedge funds have recently modified their holdings of PCVX. RA Capital Management L.P. increased its stake in shares of Vaxcyte by 40.3% in the 1st quarter. RA Capital Management L.P. now owns 12,189,149 shares of the company's stock worth $460,262,000 after acquiring an additional 3,499,959 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Vaxcyte by 0.7% during the first quarter. Vanguard Group Inc. now owns 12,043,805 shares of the company's stock valued at $454,774,000 after purchasing an additional 82,118 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Vaxcyte by 44.4% during the first quarter. Wellington Management Group LLP now owns 6,416,930 shares of the company's stock valued at $242,303,000 after purchasing an additional 1,972,918 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Vaxcyte by 26.8% during the fourth quarter. Capital Research Global Investors now owns 6,210,523 shares of the company's stock valued at $508,393,000 after purchasing an additional 1,312,302 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Vaxcyte by 3.0% in the 4th quarter. Franklin Resources Inc. now owns 2,869,332 shares of the company's stock worth $234,884,000 after purchasing an additional 82,997 shares in the last quarter. Institutional investors own 96.78% of the company's stock.

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.