Vaxcyte FY2024 EPS Forecast Boosted by Leerink Partnrs

Vaxcyte, Inc. (NASDAQ:PCVX) – Equities research analysts at Leerink Partnrs upped their FY2024 earnings estimates for shares of Vaxcyte in a research note issued to investors on Tuesday, November 5th. Leerink Partnrs analyst D. Risinger now forecasts that the company will earn ($3.69) per share for the year, up from their previous forecast of ($3.79). The consensus estimate for Vaxcyte’s current full-year earnings is ($4.33) per share. Leerink Partnrs also issued estimates for Vaxcyte’s Q4 2024 earnings at ($0.91) EPS, FY2025 earnings at ($4.73) EPS, FY2026 earnings at ($5.42) EPS, FY2027 earnings at ($6.13) EPS and FY2028 earnings at ($5.37) EPS.

Several other analysts have also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Vaxcyte in a research report on Wednesday. BTIG Research raised their price objective on shares of Vaxcyte from $98.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Vaxcyte in a report on Wednesday. Mizuho increased their target price on shares of Vaxcyte from $113.00 to $163.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Leerink Partners increased their target price on shares of Vaxcyte from $106.00 to $153.00 and gave the company an “outperform” rating in a report on Tuesday, September 3rd. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $147.50.

Vaxcyte Stock Performance

Vaxcyte stock opened at $102.70 on Friday. The firm’s fifty day moving average price is $110.57 and its 200-day moving average price is $86.81. The stock has a market cap of $11.46 billion, a P/E ratio of -22.37 and a beta of 1.01. Vaxcyte has a fifty-two week low of $46.16 and a fifty-two week high of $121.06.

Vaxcyte (NASDAQ:PCVX) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.10) by $0.27. During the same quarter in the previous year, the firm posted ($0.91) EPS.

Institutional Investors Weigh In On Vaxcyte

Large investors have recently modified their holdings of the stock. Riverview Trust Co bought a new stake in shares of Vaxcyte during the 3rd quarter valued at about $27,000. Blue Trust Inc. boosted its stake in shares of Vaxcyte by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 371 shares of the company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Fifth Third Bancorp purchased a new position in Vaxcyte during the 2nd quarter valued at about $35,000. J.Safra Asset Management Corp lifted its position in Vaxcyte by 649.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 607 shares of the company’s stock valued at $46,000 after acquiring an additional 526 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in Vaxcyte by 1,007.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 698 shares of the company’s stock valued at $80,000 after acquiring an additional 635 shares during the period. Institutional investors own 96.78% of the company’s stock.

Insiders Place Their Bets

In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the sale, the chief financial officer now owns 90,383 shares of the company’s stock, valued at $10,479,005.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Vaxcyte news, CFO Andrew Guggenhime sold 8,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $115.94, for a total value of $927,520.00. Following the sale, the chief financial officer now owns 90,383 shares of the company’s stock, valued at $10,479,005.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Grant Pickering sold 15,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $106.82, for a total transaction of $1,602,300.00. Following the completion of the sale, the chief executive officer now directly owns 435,219 shares in the company, valued at approximately $46,490,093.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,098 shares of company stock valued at $12,394,473 in the last quarter. Insiders own 3.10% 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.