Mizuho Raises Vaxcyte (NASDAQ:PCVX) Price Target to $163.00

Vaxcyte (NASDAQ:PCVX) had its target price upped by analysts at Mizuho from $113.00 to $163.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 43.55% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Vaxcyte in a report on Thursday, June 20th. Jefferies Financial Group upped their price target on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Needham & Company LLC raised their price objective on Vaxcyte from $95.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Leerink Partners upped their target price on Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Bank of America increased their target price on Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Vaxcyte currently has a consensus rating of “Buy” and a consensus price target of $147.50.

Vaxcyte Stock Performance

Shares of PCVX stock opened at $113.55 on Tuesday. Vaxcyte has a fifty-two week low of $44.20 and a fifty-two week high of $119.50. The stock has a 50 day simple moving average of $84.11 and a two-hundred day simple moving average of $74.38. The company has a market cap of $12.35 billion, a P/E ratio of -26.53 and a beta of 0.97.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($1.10) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.04. During the same quarter in the prior year, the business posted ($0.70) earnings per share. On average, research analysts predict that Vaxcyte will post -4.33 earnings per share for the current year.

Insider Transactions at Vaxcyte

In related news, SVP Mikhail Eydelman sold 1,667 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $76.37, for a total transaction of $127,308.79. Following the completion of the sale, the senior vice president now owns 30,826 shares in the company, valued at $2,354,181.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Grant Pickering sold 15,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at $36,223,088.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mikhail Eydelman sold 1,667 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $76.37, for a total transaction of $127,308.79. Following the completion of the sale, the senior vice president now directly owns 30,826 shares of the company’s stock, valued at $2,354,181.62. The disclosure for this sale can be found here. Insiders sold a total of 85,283 shares of company stock valued at $7,271,218 over the last ninety days. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vaxcyte

Several hedge funds have recently modified their holdings of PCVX. Darwin Global Management Ltd. lifted its holdings in Vaxcyte by 374.3% during the first quarter. Darwin Global Management Ltd. now owns 2,750,804 shares of the company’s stock worth $187,907,000 after acquiring an additional 2,170,845 shares during the period. Vanguard Group Inc. raised its stake in shares of Vaxcyte by 15.2% during the 1st quarter. Vanguard Group Inc. now owns 9,737,254 shares of the company’s stock worth $665,152,000 after purchasing an additional 1,284,883 shares during the period. Norges Bank bought a new stake in shares of Vaxcyte during the 4th quarter worth $57,494,000. Capital Research Global Investors boosted its holdings in shares of Vaxcyte by 20.4% in the 1st quarter. Capital Research Global Investors now owns 4,140,521 shares of the company’s stock worth $282,839,000 after buying an additional 700,414 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Vaxcyte by 9.9% during the first quarter. Janus Henderson Group PLC now owns 7,673,868 shares of the company’s stock valued at $524,117,000 after buying an additional 692,492 shares during the period. Institutional investors own 96.78% of the company’s stock.

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.