Brokers Set Expectations for Vaxcyte, Inc.’s Q1 2024 Earnings (NASDAQ:PCVX)

Vaxcyte, Inc. (NASDAQ:PCVX – Get Rating) – SVB Leerink issued their Q1 2024 EPS estimates for shares of Vaxcyte in a report released on Wednesday, May 10th. SVB Leerink analyst D. Risinger anticipates that the company will post earnings per share of ($0.80) for the quarter. The consensus estimate for Vaxcyte’s current full-year earnings is ($3.61) per share. SVB Leerink also issued estimates for Vaxcyte’s Q2 2024 earnings at ($0.86) EPS, Q3 2024 earnings at ($0.79) EPS and Q4 2024 earnings at ($0.78) EPS.

Vaxcyte (NASDAQ:PCVX – Get Rating) last announced its earnings results on Monday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.11.

A number of other equities analysts also recently weighed in on PCVX. 888 reaffirmed a “reiterates” rating on shares of Vaxcyte in a research note on Tuesday. Guggenheim dropped their price target on shares of Vaxcyte from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Tuesday, February 28th. Bank of America boosted their price target on shares of Vaxcyte from $63.00 to $68.00 in a research note on Monday, April 17th. TD Cowen began coverage on shares of Vaxcyte in a research note on Tuesday, April 18th. They set an “outperform” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $58.00 price target on shares of Vaxcyte in a research note on Tuesday, February 28th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Vaxcyte has a consensus rating of “Buy” and a consensus target price of $65.00.

Vaxcyte Trading Down 4.4 %

Shares of NASDAQ PCVX opened at $50.05 on Thursday. Vaxcyte has a 1-year low of $17.44 and a 1-year high of $54.84. The company has a market cap of $4.69 billion, a PE ratio of -14.47 and a beta of 0.97. The company has a 50-day moving average of $41.23 and a two-hundred day moving average of $43.22.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Carlyle Group Inc. acquired a new position in shares of Vaxcyte in the first quarter valued at approximately $72,080,000. FMR LLC boosted its holdings in shares of Vaxcyte by 16.1% in the first quarter. FMR LLC now owns 11,808,565 shares of the company’s stock valued at $442,585,000 after buying an additional 1,639,283 shares during the period. Jennison Associates LLC acquired a new position in shares of Vaxcyte in the fourth quarter valued at approximately $68,185,000. Braidwell LP acquired a new position in shares of Vaxcyte in the fourth quarter valued at approximately $65,321,000. Finally, RA Capital Management L.P. boosted its holdings in shares of Vaxcyte by 27.9% in the fourth quarter. RA Capital Management L.P. now owns 5,857,459 shares of the company’s stock valued at $280,865,000 after buying an additional 1,276,256 shares during the period. Institutional investors and hedge funds own 71.50% of the company’s stock.

About Vaxcyte

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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 that is in Phase 1/2 clinical trials to treat invasive pneumococcal disease and pneumonia.