Last Updated: 17 Sep 2024
Executive Summary
Vaxcyte Inc. (PCVX) is a pre-clinical biotech vaccine company with a market capitalization of $14.36 billion. The company is developing novel vaccines to prevent or treat infectious diseases globally. Despite having no revenue or earnings, Vaxcyte has a strong analyst following with 10 out of 10 analysts recommending a buy or strong buy. The stock is currently trading at $114.24, above its 50-day and 200-day moving averages but below its 52-week high of $119.50.
Company Overview
Vaxcyte was founded in 2014 and is headquartered in Foster City, California. The company's lead vaccine candidate, VAX-24, is a prophylactic vaccine for the prevention of Staphylococcus aureus (S. aureus) infections. S. aureus is a major cause of healthcare-associated infections and is responsible for a significant number of deaths each year. VAX-24 is currently in Phase 2 clinical trials.
Fundamental Analysis
Vaxcyte has no revenue or earnings, so traditional valuation metrics such as P/E ratio and PEG ratio are not applicable. However, the company does have a strong balance sheet with $336.2 million in cash and cash equivalents as of June 30, 2024. The company also has a number of strategic partnerships with large pharmaceutical companies, including Merck & Co. and Sanofi.
Technical Analysis
Vaxcyte's stock price has been in a strong uptrend since the beginning of 2023. The stock is currently trading above its 50-day and 200-day moving averages, which is a bullish sign. The stock is also forming a bullish pennant pattern, which suggests that the stock is likely to continue its uptrend in the near term.
Short Term Outlook
The short-term outlook for Vaxcyte is positive. The stock is trading above its key moving averages and is forming a bullish pennant pattern. The stock is also supported by a strong analyst following. In the short term, the stock is likely to continue its uptrend and could reach its 52-week high of $119.50.
Long Term Outlook
The long-term outlook for Vaxcyte is also positive. The company has a strong pipeline of vaccine candidates and is well-funded. The company's lead vaccine candidate, VAX-24, has the potential to be a blockbuster drug. If VAX-24 is successful in clinical trials and is approved by the FDA, it could generate significant revenue for Vaxcyte.
Analyst Recommendations
10 out of 10 analysts recommend a buy or strong buy on Vaxcyte. The average analyst target price is $145, which represents a potential upside of 27% from the current price.
