Vaxcyte, Inc. (NASDAQ:PCVX) Receives $106.25 Average Price Target from Brokerages

Key Points

• Vaxcyte, Inc. has received a consensus rating of "Buy" from seven research firms, with an average target price of $106.25 among brokerages.
• Recent hedge fund activity shows significant increases in stakes, with RA Capital Management raising its stake by 40.3% and Wellington Management increasing by 44.4%.
• The company reported a loss of ($1.22) EPS for the last quarter, missing analysts’ estimates of ($1.12) EPS.

Shares of Vaxcyte, Inc. (NASDAQ:PCVX - Get Free Report) have earned an average recommendation of "Buy" from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $106.25.

Several brokerages have recently commented on PCVX. Cowen reiterated a "buy" rating on shares of Vaxcyte in a research report on Thursday, August 7th. The Goldman Sachs Group began coverage on Vaxcyte in a research report on Friday. They issued a "neutral" rating and a $38.00 target price for the company.

Vaxcyte Trading Down 3.6%

NASDAQ PCVX traded down $1.17 during mid-day trading on Friday, reaching $31.00. 1,260,839 shares of the company's stock traded hands, compared to its average volume of 1,422,392. Vaxcyte has a 1-year low of $27.66 and a 1-year high of $121.06. The company has a fifty day simple moving average of $33.14 and a 200-day simple moving average of $38.47. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -7.54 and a beta of 1.04.

Vaxcyte (NASDAQ:PCVX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) earnings per share for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.10). During the same quarter in the previous year, the business posted ($1.10) earnings per share. Equities research analysts forecast that Vaxcyte will post -4.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AlphaQuest LLC acquired a new position in shares of Vaxcyte in the 1st quarter worth approximately $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Vaxcyte in the 1st quarter worth approximately $35,000. Parallel Advisors LLC lifted its holdings 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 purchasing an additional 1,071 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Vaxcyte by 376.4% in the 1st quarter. IFP Advisors Inc now owns 1,653 shares of the company's stock worth $62,000 after purchasing an additional 1,306 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Vaxcyte by 197.3% in the 2nd quarter. CWM LLC now owns 1,680 shares of the company's stock worth $55,000 after purchasing an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 96.78% of the company's stock.

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.