Bank of America Raises Vaxcyte (NASDAQ:PCVX) Price Target to $140.00

Vaxcyte (NASDAQ:PCVX) had its price objective raised by Bank of America from $101.00 to $140.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

PCVX has been the topic of a number of other reports. Leerink Partners increased 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. Jefferies Financial Group raised their price objective on shares of Vaxcyte from $108.00 to $129.00 and gave the stock a buy rating in a research note on Tuesday. Needham & Company LLC upped their target price on Vaxcyte from $95.00 to $140.00 and gave the company a buy rating in a research note on Tuesday. Cantor Fitzgerald reiterated an overweight rating on shares of Vaxcyte in a report on Thursday, June 20th. Finally, BTIG Research boosted their price target on Vaxcyte from $98.00 to $160.00 and gave the stock a buy rating in a report on Tuesday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $131.83.

Vaxcyte Stock Performance

Vaxcyte stock opened at $111.58 on Wednesday. The company has a market cap of $12.14 billion, a P/E ratio of -26.07 and a beta of 0.97. Vaxcyte has a one year low of $44.20 and a one year high of $119.27. The business has a fifty day moving average of $81.80 and a two-hundred day moving average of $73.53.

Vaxcyte (NASDAQ:PCVX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.12). During the same period in the previous year, the firm earned ($0.70) EPS. Sell-side analysts predict that Vaxcyte will post -4.33 EPS for the current year.

Insider Buying and Selling

In other Vaxcyte news, COO Jim Wassil sold 10,000 shares of Vaxcyte stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $111.93, for a total value of $1,119,300.00. Following the completion of the sale, the chief operating officer now owns 207,503 shares in the company, valued at approximately $23,225,810.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Vaxcyte news, COO Jim Wassil sold 10,000 shares of Vaxcyte stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $111.93, for a total value of $1,119,300.00. Following the transaction, the chief operating officer now owns 207,503 shares in the company, valued at approximately $23,225,810.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Grant Pickering sold 15,000 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $75.64, for a total value of $1,134,600.00. Following the sale, the chief executive officer now owns 478,888 shares of the company’s stock, valued at $36,223,088.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,283 shares of company stock worth $7,271,218. 3.10% of the stock is owned by company insiders.

Institutional Trading of Vaxcyte

Institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC acquired a new position in Vaxcyte during the second quarter valued at approximately $14,056,000. Novo Holdings A S raised its stake in shares of Vaxcyte by 12.4% in the 2nd quarter. Novo Holdings A S now owns 950,000 shares of the company’s stock valued at $71,734,000 after acquiring an additional 105,000 shares during the period. Creative Planning lifted its holdings in shares of Vaxcyte by 64.0% during the 2nd quarter. Creative Planning now owns 27,280 shares of the company’s stock valued at $2,060,000 after acquiring an additional 10,642 shares in the last quarter. Algert Global LLC boosted its position in Vaxcyte by 161.1% during the 2nd quarter. Algert Global LLC now owns 34,752 shares of the company’s stock worth $2,624,000 after purchasing an additional 21,442 shares during the period. Finally, Driehaus Capital Management LLC raised its position in Vaxcyte by 3.6% in the second quarter. Driehaus Capital Management LLC now owns 1,934,747 shares of the company’s stock valued at $146,093,000 after purchasing an additional 66,940 shares during the period. Hedge funds and other institutional investors 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.