Vaxcyte (NASDAQ:PCVX) Releases Earnings Results, Beats Estimates By $0.28 EPS

Vaxcyte (NASDAQ:PCVX) issued its quarterly earnings results on Wednesday. The company reported ($0.85) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.28, Briefing.com reports.

Vaxcyte Stock Performance

Shares of NASDAQ:PCVX traded down $1.13 during midday trading on Thursday, reaching $65.66. 177,859 shares of the company’s stock traded hands, compared to its average volume of 805,355. Vaxcyte has a 1 year low of $44.20 and a 1 year high of $82.04. The company has a market cap of $7.12 billion, a P/E ratio of -15.80 and a beta of 0.94. The company has a fifty day simple moving average of $66.14 and a two-hundred day simple moving average of $62.45.

Insider Buying and Selling at Vaxcyte

In other Vaxcyte news, CEO Grant Pickering sold 2,616 shares of Vaxcyte stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $73.70, for a total value of $192,799.20. Following the completion of the transaction, the chief executive officer now directly owns 148,670 shares of the company’s stock, valued at approximately $10,956,979. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Elvia Cowan sold 11,678 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $74.08, for a total value of $865,106.24. Following the transaction, the senior vice president now owns 12,480 shares in the company, valued at $924,518.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Grant Pickering sold 2,616 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $73.70, for a total transaction of $192,799.20. Following the completion of the sale, the chief executive officer now directly owns 148,670 shares of the company’s stock, valued at approximately $10,956,979. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,294 shares of company stock worth $4,254,105. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $95.00 price objective on shares of Vaxcyte in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a report on Thursday. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $78.50.

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.