Vaxcyte, Inc. (NASDAQ:PCVX – Get Rating) – Stock analysts at Cantor Fitzgerald raised their FY2023 earnings per share (EPS) estimates for Vaxcyte in a research note issued to investors on Tuesday, May 9th. Cantor Fitzgerald analyst L. Chen now anticipates that the company will post earnings of ($3.15) per share for the year, up from their prior estimate of ($3.93). The consensus estimate for Vaxcyte’s current full-year earnings is ($3.61) per share.
A number of other research analysts have also recently commented on the company. TD Cowen began coverage on Vaxcyte in a research note on Tuesday, April 18th. They set an “outperform” rating on the stock. Bank of America boosted their price target on Vaxcyte from $63.00 to $68.00 in a report on Monday, April 17th. Guggenheim lowered their price target on Vaxcyte from $66.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $58.00 price target on shares of Vaxcyte in a report on Tuesday, February 28th. Finally, 888 reiterated a “reiterates” rating on shares of Vaxcyte in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Vaxcyte currently has an average rating of “Buy” and a consensus target price of $65.00.
Vaxcyte Stock Performance
Vaxcyte (NASDAQ:PCVX – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.11.
Institutional Trading of Vaxcyte
Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Vaxcyte by 16.1% during the 1st quarter. FMR LLC now owns 11,808,565 shares of the company’s stock valued at $442,585,000 after purchasing an additional 1,639,283 shares during the last quarter. RA Capital Management L.P. increased its position in shares of Vaxcyte by 27.9% in the 4th quarter. RA Capital Management L.P. now owns 5,857,459 shares of the company’s stock valued at $280,865,000 after acquiring an additional 1,276,256 shares during the period. Vanguard Group Inc. increased its position in shares of Vaxcyte by 12.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,452,145 shares of the company’s stock valued at $106,851,000 after acquiring an additional 496,227 shares during the period. BlackRock Inc. increased its position in shares of Vaxcyte by 6.7% in the 3rd quarter. BlackRock Inc. now owns 3,492,321 shares of the company’s stock valued at $83,817,000 after acquiring an additional 220,691 shares during the period. Finally, State Street Corp increased its position in shares of Vaxcyte by 7.4% in the 3rd quarter. State Street Corp now owns 1,993,036 shares of the company’s stock valued at $47,833,000 after acquiring an additional 137,392 shares during the period. Hedge funds and other institutional investors own 71.50% of the company’s stock.
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.
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