The Goldman Sachs Group Begins Coverage on Vaxcyte (NASDAQ:PCVX)

Analysts at The Goldman Sachs Group began coverage on shares of Vaxcyte (NASDAQ:PCVX) in a research report issued on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $135.00 price target on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 56.59% from the company’s current price.

Several other analysts have also weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Vaxcyte in a report on Wednesday, November 6th. Jefferies Financial Group boosted their price target on Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. BTIG Research raised their price objective on Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho boosted their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Leerink Partners raised their price target on shares of Vaxcyte from $106.00 to $153.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $145.71.

Vaxcyte Stock Up 0.5 %

Shares of NASDAQ PCVX opened at $86.21 on Friday. Vaxcyte has a fifty-two week low of $53.83 and a fifty-two week high of $121.06. The business has a 50 day moving average price of $99.26 and a two-hundred day moving average price of $92.03. The firm has a market cap of $10.74 billion, a PE ratio of -18.74 and a beta of 0.94.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter last year, the company posted ($0.91) EPS. On average, analysts anticipate that Vaxcyte will post -4.14 earnings per share for the current year.

Insider Activity at Vaxcyte

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $88.78, for a total transaction of $710,240.00. Following the completion of the transaction, the chief financial officer now directly owns 109,491 shares of the company’s stock, valued at approximately $9,720,610.98. This trade represents a 6.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Grant Pickering sold 2,366 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $92.25, for a total value of $218,263.50. Following the completion of the sale, the chief executive officer now directly owns 136,215 shares in the company, valued at $12,565,833.75. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,830 shares of company stock worth $12,383,030 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PCVX. Riverview Trust Co bought a new stake in shares of Vaxcyte during the 3rd quarter worth $27,000. Fifth Third Bancorp purchased a new stake in Vaxcyte during the second quarter valued at about $35,000. Blue Trust Inc. boosted its holdings in shares of Vaxcyte by 33.5% in the third quarter. Blue Trust Inc. now owns 371 shares of the company’s stock worth $42,000 after buying an additional 93 shares during the period. Quest Partners LLC purchased a new position in Vaxcyte during the 2nd quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. raised its stake in Vaxcyte by 1,007.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock valued at $80,000 after purchasing an additional 635 shares during the period. 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.