Vaxcyte (NASDAQ:PCVX) Earns Neutral Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Vaxcyte (NASDAQ:PCVX) in a report released on Friday morning, Marketbeat Ratings reports. The firm issued a neutral rating and a $38.00 target price on the stock.

Separately, Cowen reiterated a “buy” rating on shares of Vaxcyte in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $106.25.

Vaxcyte Stock Performance

Shares of PCVX stock opened at $32.17 on Friday. The firm has a market cap of $4.18 billion, a P/E ratio of -7.83 and a beta of 1.04. Vaxcyte has a fifty-two week low of $27.66 and a fifty-two week high of $121.06. The business’s 50 day moving average price is $33.16 and its 200-day moving average price is $38.76.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.10). During the same period in the previous year, the company posted ($1.10) earnings per share. As a group, equities analysts predict that Vaxcyte will post -4.21 EPS for the current year.

Institutional Investors Weigh In On Vaxcyte

Hedge funds have recently made changes to their positions in the company. Ethic Inc. bought a new stake in Vaxcyte during the fourth quarter worth approximately $462,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Vaxcyte by 17.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,534 shares of the company’s stock worth $6,266,000 after purchasing an additional 11,223 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Vaxcyte by 14.2% during the 4th quarter. Nuveen Asset Management LLC now owns 529,650 shares of the company’s stock valued at $43,357,000 after buying an additional 65,713 shares during the period. Man Group plc raised its position in shares of Vaxcyte by 878.8% during the 4th quarter. Man Group plc now owns 142,426 shares of the company’s stock valued at $11,659,000 after buying an additional 127,875 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Vaxcyte by 40.2% in the 4th quarter. ProShare Advisors LLC now owns 40,875 shares of the company’s stock valued at $3,346,000 after purchasing an additional 11,729 shares during the last quarter. 96.78% of the stock is currently owned by hedge funds and other institutional investors.

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.