Vaxcyte’s (PCVX) “Buy” Rating Reiterated at Needham & Company LLC

by · The Markets Daily

Needham & Company LLC restated their buy rating on shares of Vaxcyte (NASDAQ:PCVX – Free Report) in a research note published on Friday,Benzinga reports. They currently have a $110.00 price target on the stock.

A number of other research analysts also recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vaxcyte in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Vaxcyte from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research raised shares of Vaxcyte from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.00.

View Our Latest Stock Report on PCVX

Vaxcyte Price Performance

Shares of PCVX opened at $56.21 on Friday. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of -7.37 and a beta of 1.22. The business’s 50 day moving average is $58.58 and its two-hundred day moving average is $56.17. Vaxcyte has a 52-week low of $31.89 and a 52-week high of $65.00.

Vaxcyte (NASDAQ:PCVX – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. During the same quarter last year, the company posted ($1.22) EPS. On average, equities analysts expect that Vaxcyte will post -7.6 earnings per share for the current fiscal year.

Insider Transactions at Vaxcyte

In related news, insider Harpreet Dhaliwal sold 17,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $55.00, for a total transaction of $935,000.00. Following the transaction, the insider directly owned 76,756 shares in the company, valued at $4,221,580. This trade represents a 18.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Grant Pickering sold 2,000 shares of Vaxcyte stock in a transaction on Monday, July 27th. The stock was sold at an average price of $55.65, for a total transaction of $111,300.00. Following the completion of the transaction, the chief executive officer directly owned 133,215 shares of the company’s stock, valued at approximately $7,413,414.75. This represents a 1.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 65,890 shares of company stock valued at $3,683,224. 3.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Jupiter Topco LLC bought a new stake in shares of Vaxcyte during the 2nd quarter valued at about $1,044,355,000. BlackRock Inc. acquired a new stake in Vaxcyte during the second quarter worth about $701,520,000. Janus Henderson Group PLC lifted its holdings in Vaxcyte by 23.8% in the first quarter. Janus Henderson Group PLC now owns 16,575,875 shares of the company’s stock worth $960,231,000 after acquiring an additional 3,188,687 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in Vaxcyte by 35.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 11,296,333 shares of the company’s stock worth $521,213,000 after acquiring an additional 2,981,038 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Vaxcyte by 24.7% in the second quarter. Wellington Management Group LLP now owns 7,001,565 shares of the company’s stock valued at $407,001,000 after acquiring an additional 1,386,968 shares during the period. 96.78% of the stock is currently owned by institutional investors.

About Vaxcyte

(Get Free Report)

Vaxcyte, Inc is a clinical-stage biotechnology company focused on developing vaccines to prevent serious bacterial infections. The company’s lead programs target pneumococcal disease, which can cause pneumonia, meningitis, bloodstream infections and other invasive illnesses. Vaxcyte is developing broad-spectrum pneumococcal conjugate vaccine candidates designed to protect against a wide range of bacterial serotypes.

Vaxcyte’s pipeline has included VAX-24, an investigational 24-valent pneumococcal conjugate vaccine, and VAX-31, a next-generation candidate designed to cover 31 serotypes.

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