Vaxcyte FY2024 EPS Forecast Increased by Cantor Fitzgerald

Vaxcyte, Inc. (NASDAQ:PCVX) – Equities researchers at Cantor Fitzgerald boosted their FY2024 earnings estimates for Vaxcyte in a report released on Wednesday, November 6th. Cantor Fitzgerald analyst L. Chen now expects that the company will earn ($3.87) per share for the year, up from their prior forecast of ($4.36). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Vaxcyte’s current full-year earnings is ($4.14) per share.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.27. During the same period last year, the firm earned ($0.91) earnings per share.

A number of other equities research analysts also recently issued reports on the stock. Leerink Partners boosted their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group raised their price target on Vaxcyte from $108.00 to $129.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America increased their target price on Vaxcyte from $101.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Mizuho boosted their price target on shares of Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a research note on Wednesday, November 6th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $147.50.

Vaxcyte Trading Down 2.8 %

NASDAQ PCVX opened at $103.64 on Monday. The stock has a market cap of $12.92 billion, a PE ratio of -22.53 and a beta of 1.01. Vaxcyte has a twelve month low of $46.16 and a twelve month high of $121.06. The stock has a fifty day simple moving average of $112.01 and a 200-day simple moving average of $87.92.

Insider Buying and Selling

In other news, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the completion of the transaction, the chief executive officer now directly owns 478,888 shares of the company’s stock, valued at approximately $37,822,574.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $78.98, for a total transaction of $1,184,700.00. Following the sale, the chief executive officer now owns 478,888 shares in the company, valued at approximately $37,822,574.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jim Wassil sold 8,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $106.80, for a total value of $854,400.00. Following the completion of the sale, the chief operating officer now directly owns 205,695 shares of the company’s stock, valued at $21,968,226. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,464 shares of company stock worth $12,640,276. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Darwin Global Management Ltd. lifted its stake in shares of Vaxcyte by 374.3% in the first quarter. Darwin Global Management Ltd. now owns 2,750,804 shares of the company’s stock valued at $187,907,000 after purchasing an additional 2,170,845 shares during the period. Vanguard Group Inc. grew its holdings in shares of Vaxcyte by 15.2% in the 1st quarter. Vanguard Group Inc. now owns 9,737,254 shares of the company’s stock worth $665,152,000 after acquiring an additional 1,284,883 shares during the period. Capital Research Global Investors increased its stake in Vaxcyte by 20.4% in the 1st quarter. Capital Research Global Investors now owns 4,140,521 shares of the company’s stock valued at $282,839,000 after purchasing an additional 700,414 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Vaxcyte by 9.9% during the first quarter. Janus Henderson Group PLC now owns 7,673,868 shares of the company’s stock worth $524,117,000 after purchasing an additional 692,492 shares during the last quarter. Finally, Avoro Capital Advisors LLC purchased a new stake in Vaxcyte during the first quarter worth $39,278,000. Institutional investors and hedge funds 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.