Needham & Company LLC Reaffirms “Buy” Rating for Vaxcyte (NASDAQ:PCVX)

Needham & Company LLC restated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research report report published on Wednesday morning,Benzinga reports. They currently have a $140.00 price target on the stock.

PCVX has been the topic of several other reports. Jefferies Financial Group boosted their target price on Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Mizuho upped their price objective on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. BTIG Research lifted their target price on shares of Vaxcyte from $98.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Bank of America upped their price target on shares of Vaxcyte from $101.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Leerink Partners lifted their price objective 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. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $147.50.

Vaxcyte Stock Performance

PCVX opened at $106.67 on Wednesday. Vaxcyte has a fifty-two week low of $46.16 and a fifty-two week high of $121.06. The firm has a 50-day moving average of $111.56 and a 200 day moving average of $87.23. The firm has a market cap of $13.30 billion, a P/E ratio of -23.19 and a beta of 1.01.

Vaxcyte (NASDAQ:PCVX) last released its earnings results on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.27. During the same quarter in the prior year, the company earned ($0.91) EPS. Equities research analysts predict that Vaxcyte will post -4.33 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Elvia Cowan sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total transaction of $538,350.00. Following the sale, the senior vice president now owns 12,723 shares of the company’s stock, valued at approximately $1,369,885.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Grant Pickering sold 2,366 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $103.89, for a total value of $245,803.74. Following the transaction, the chief executive officer now directly owns 137,398 shares in the company, valued at approximately $14,274,278.22. This represents 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 the SEC website. Also, SVP Elvia Cowan sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $107.67, for a total transaction of $538,350.00. Following the completion of the sale, the senior vice president now directly owns 12,723 shares in the company, valued at $1,369,885.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 117,464 shares of company stock worth $12,640,276. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vaxcyte

Institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in shares of Vaxcyte during the 3rd quarter worth $3,226,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Vaxcyte by 59.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,037 shares of the company’s stock valued at $8,003,000 after purchasing an additional 26,096 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Vaxcyte during the third quarter worth about $1,189,000. Meeder Asset Management Inc. boosted its holdings in shares of Vaxcyte by 1,007.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock worth $80,000 after purchasing an additional 635 shares in the last quarter. Finally, Pathstone Holdings LLC increased its position in shares of Vaxcyte by 7.6% during the 3rd quarter. Pathstone Holdings LLC now owns 30,527 shares of the company’s stock valued at $3,488,000 after purchasing an additional 2,154 shares during the last quarter. Institutional investors own 96.78% of the company’s stock.

Vaxcyte Company Profile

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.