Vaxcyte (NASDAQ:PCVX) Price Target Raised to $160.00

Vaxcyte (NASDAQ:PCVX) had its price target increased by stock analysts at BTIG Research from $98.00 to $160.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 46.59% from the company’s current price.

Several other equities analysts have also commented on PCVX. Needham & Company LLC increased their target price on Vaxcyte from $95.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a research report on Thursday, June 20th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $131.83.

Vaxcyte Trading Down 0.9 %

PCVX stock opened at $109.15 on Tuesday. The business’s 50-day moving average is $80.41 and its 200 day moving average is $73.01. The stock has a market cap of $12.18 billion, a price-to-earnings ratio of -25.50 and a beta of 0.97. Vaxcyte has a 12-month low of $44.20 and a 12-month high of $119.27.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). During the same period in the previous year, the business earned ($0.70) earnings per share. As a group, equities analysts forecast that Vaxcyte will post -4.33 EPS for the current fiscal year.

Insider Transactions at Vaxcyte

In other news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $75.64, for a total transaction of $1,134,600.00. Following the sale, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at $36,223,088.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Grant Pickering sold 15,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $75.64, for a total transaction of $1,134,600.00. Following the sale, the chief executive officer now owns 478,888 shares in the company, valued at $36,223,088.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mikhail Eydelman sold 1,667 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $76.37, for a total value of $127,308.79. Following the transaction, the senior vice president now owns 30,826 shares of the company’s stock, valued at approximately $2,354,181.62. The disclosure for this sale can be found here. Insiders sold 70,283 shares of company stock valued at $5,613,568 over the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Trading of Vaxcyte

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its holdings in Vaxcyte by 155.3% in the 4th quarter. Parallel Advisors LLC now owns 411 shares of the company’s stock valued at $26,000 after acquiring an additional 250 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Vaxcyte in the second quarter valued at $35,000. Fidelis Capital Partners LLC acquired a new position in shares of Vaxcyte in the 1st quarter valued at about $37,000. J.Safra Asset Management Corp lifted its position in Vaxcyte by 649.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 607 shares of the company’s stock worth $46,000 after buying an additional 526 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Vaxcyte during the second quarter worth $70,000. 96.78% of the stock is owned by institutional investors and hedge funds.

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.