Brokerages Set Vaxcyte, Inc. (NASDAQ:PCVX) Target Price at $136.50

Vaxcyte, Inc. (NASDAQ:PCVX) has earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $136.50.

Several research firms have weighed in on PCVX. Evercore ISI raised Vaxcyte to a “strong-buy” rating in a research report on Monday, March 31st. Bank of America dropped their target price on Vaxcyte from $157.00 to $137.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Cantor Fitzgerald began coverage on Vaxcyte in a research report on Tuesday, April 22nd. They issued an “overweight” rating for the company. The Goldman Sachs Group dropped their target price on Vaxcyte from $138.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. 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 Performance

NASDAQ PCVX opened at $36.63 on Friday. The business has a fifty day moving average price of $34.38 and a 200 day moving average price of $51.77. Vaxcyte has a one year low of $27.66 and a one year high of $121.06. The company has a market cap of $4.73 billion, a P/E ratio of -9.18 and a beta of 1.19.

Vaxcyte (NASDAQ:PCVX) last issued its earnings results on Wednesday, May 14th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.02). During the same period last year, the business earned ($0.85) earnings per share. As a group, sell-side analysts predict that Vaxcyte will post -4.21 EPS for the current fiscal year.

Institutional Trading of Vaxcyte

A number of institutional investors have recently modified their holdings of the business. Bridgefront Capital LLC boosted its stake in shares of Vaxcyte by 4.2% in the fourth quarter. Bridgefront Capital LLC now owns 4,244 shares of the company’s stock valued at $347,000 after buying an additional 172 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Vaxcyte by 10.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,977 shares of the company’s stock worth $112,000 after purchasing an additional 293 shares in the last quarter. Avior Wealth Management LLC boosted its position in Vaxcyte by 5.3% during the first quarter. Avior Wealth Management LLC now owns 6,799 shares of the company’s stock worth $257,000 after purchasing an additional 343 shares in the last quarter. US Bancorp DE boosted its position in Vaxcyte by 7.2% during the first quarter. US Bancorp DE now owns 5,344 shares of the company’s stock worth $202,000 after purchasing an additional 357 shares in the last quarter. Finally, Xponance Inc. boosted its position in Vaxcyte by 4.7% during the first quarter. Xponance Inc. now owns 9,320 shares of the company’s stock worth $352,000 after purchasing an additional 415 shares in the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

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.