Vaxcyte (NASDAQ:PCVX) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

by · The Cerbat Gem

Vaxcyte (NASDAQ:PCVX – Get Free Report) announced its earnings results on Tuesday. The company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.27, Briefing.com reports. During the same period in the prior year, the business posted ($0.91) earnings per share.

Vaxcyte Price Performance

Shares of NASDAQ:PCVX traded up $1.45 during midday trading on Thursday, hitting $105.52. The company had a trading volume of 27,642 shares, compared to its average volume of 834,170. Vaxcyte has a 12-month low of $46.16 and a 12-month high of $121.06. The company has a fifty day moving average of $110.06 and a two-hundred day moving average of $86.69. The company has a market cap of $11.78 billion, a price-to-earnings ratio of -22.62 and a beta of 1.01.

Insider Activity at Vaxcyte

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total transaction of $927,520.00. Following the sale, the chief financial officer now owns 90,383 shares in the company, valued at approximately $10,479,005.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $115.94, for a total value of $927,520.00. Following the completion of the transaction, the chief financial officer now directly owns 90,383 shares in the company, valued at $10,479,005.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Grant Pickering sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $78.98, for a total value of $1,184,700.00. Following the transaction, the chief executive officer now owns 478,888 shares of the company’s stock, valued at $37,822,574.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,098 shares of company stock worth $12,394,473. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PCVX shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Vaxcyte in a research report on Wednesday. Mizuho boosted their price target on Vaxcyte from $113.00 to $163.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised their price objective on Vaxcyte from $108.00 to $129.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Vaxcyte in a report on Wednesday. Finally, Leerink Partners raised their price target on Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $147.50.

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About Vaxcyte

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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.

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