Vaxcyte (NASDAQ:PCVX) Receives Buy Rating from Guggenheim

Guggenheim restated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $116.00 price objective on the stock.

A number of other research firms also recently issued reports on PCVX. Leerink Partners set a $77.00 price objective on shares of Vaxcyte and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vaxcyte in a report on Friday, January 9th. Needham & Company LLC upped their target price on Vaxcyte from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, BTIG Research reiterated a “buy” rating and set a $85.00 price target on shares of Vaxcyte in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.83.

Vaxcyte Price Performance

PCVX opened at $57.40 on Monday. Vaxcyte has a one year low of $27.66 and a one year high of $91.77. The firm has a market capitalization of $7.51 billion, a P/E ratio of -11.86 and a beta of 1.34. The company has a fifty day moving average price of $47.61 and a 200-day moving average price of $41.00.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.29). During the same quarter in the previous year, the company posted ($0.83) earnings per share. On average, analysts expect that Vaxcyte will post -4.21 earnings per share for the current year.

Insiders Place Their Bets

In other Vaxcyte news, insider Harpreet S. Dhaliwal sold 9,743 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $46.69, for a total value of $454,900.67. Following the transaction, the insider owned 23,928 shares in the company, valued at approximately $1,117,198.32. The trade was a 28.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Elvia Cowan sold 11,623 shares of the stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $47.92, for a total transaction of $556,974.16. Following the sale, the senior vice president owned 14,534 shares of the company’s stock, valued at approximately $696,469.28. This represents a 44.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vaxcyte

Several hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in Vaxcyte by 5.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,110 shares of the company’s stock valued at $459,000 after acquiring an additional 772 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Vaxcyte during the second quarter valued at approximately $1,610,000. State of New Jersey Common Pension Fund D boosted its position in shares of Vaxcyte by 36.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 55,477 shares of the company’s stock worth $1,804,000 after purchasing an additional 14,799 shares in the last quarter. Eventide Asset Management LLC grew its stake in shares of Vaxcyte by 80.4% in the 2nd quarter. Eventide Asset Management LLC now owns 848,141 shares of the company’s stock worth $27,573,000 after buying an additional 377,911 shares during the last quarter. Finally, 111 Capital purchased a new stake in shares of Vaxcyte in the 2nd quarter worth approximately $357,000. 96.78% of the stock is owned by hedge funds and other institutional investors.

About Vaxcyte

Vaxcyte, Inc (NASDAQ: PCVX) is a clinical-stage biotechnology company focused on developing a new generation of preventive vaccines aimed at combating serious bacterial diseases. Headquartered in San Carlos, California, Vaxcyte leverages proprietary conjugation technologies to design and manufacture multivalent vaccines targeting pathogens for which there remain significant unmet medical needs. The company’s platform is intended to streamline the production of conjugate vaccines by improving antigen presentation and broadening strain coverage compared with conventional approaches.

Vaxcyte’s lead candidate, VAX-24, is a 24-valent pneumococcal conjugate vaccine designed to protect against 24 serotypes of Streptococcus pneumoniae.