Guggenheim Reiterates Buy Rating for Vaxcyte (NASDAQ:PCVX)

Guggenheim reiterated their buy rating on shares of Vaxcyte (NASDAQ:PCVX) in a research report released on Wednesday morning,Benzinga reports. They currently have a $160.00 price target on the stock.

A number of other brokerages have also recently weighed in on PCVX. The Goldman Sachs Group assumed coverage on shares of Vaxcyte in a research report on Friday, December 20th. They set a “buy” rating and a $135.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Vaxcyte in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $147.50.

Vaxcyte Stock Up 4.9 %

Shares of NASDAQ PCVX opened at $73.24 on Wednesday. The firm has a fifty day moving average of $82.65 and a 200-day moving average of $94.44. Vaxcyte has a 52-week low of $58.10 and a 52-week high of $121.06. The stock has a market capitalization of $9.43 billion, a PE ratio of -15.92 and a beta of 1.02.

Vaxcyte (NASDAQ:PCVX) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($1.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.16) by $0.14. Equities research analysts expect that Vaxcyte will post -4.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Teri Loxam sold 6,250 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.11, for a total value of $531,937.50. Following the sale, the director now owns 7,175 shares in the company, valued at approximately $610,664.25. This represents a 46.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Guggenhime sold 8,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $88.78, for a total transaction of $710,240.00. Following the completion of the sale, the chief financial officer now owns 109,491 shares in the company, valued at approximately $9,720,610.98. This trade represents a 6.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,250 shares of company stock worth $4,550,258 in the last quarter. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vaxcyte

Institutional investors have recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Vaxcyte in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC raised its stake in Vaxcyte by 188.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 398 shares of the company’s stock worth $33,000 after acquiring an additional 260 shares during the period. National Bank of Canada FI acquired a new stake in Vaxcyte during the fourth quarter worth about $41,000. Blue Trust Inc. raised its stake in Vaxcyte by 100.0% during the fourth quarter. Blue Trust Inc. now owns 742 shares of the company’s stock worth $61,000 after acquiring an additional 371 shares during the period. Finally, Assetmark Inc. raised its stake in Vaxcyte by 77,500.0% during the fourth quarter. Assetmark Inc. now owns 776 shares of the company’s stock worth $64,000 after acquiring an additional 775 shares during the period. Institutional investors and hedge funds 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.