Education
About Us
Working with TipRanks
Follow Us
Vaxcyte, Inc. (PCVX)
NASDAQ:PCVX
Top Page
Vaxcyte
(NASDAQ:PCVX)
50Neutral
Positive Factors
Clinical Trial Potential
The totality of data from VAX-24's Ph2 infant study offers a credible roadmap for Ph3 dosing, indicating potential improvements.
Competitive Positioning
Analysts reiterate Buy on PCVX’s underappreciated competitive positioning in the huge $8b+ PCV category.
Pipeline Innovation
The newly announced VAX-XL was highlighted, indicating ongoing innovation and expansion in Vaxcyte's pipeline.
Negative Factors
Clinical Trial Challenges
The VAX-24 infant study missed post-dose 3 primary serotype conversion rate non-inferiority criteria on 4 of 24 serotypes relative to Prevnar 20.
Disappointing Data
Following PCVX’s disappointing Ph2 VAX-24 infant data, the price target is reduced from $153 to $65.
Regulatory Challenges
Anti-vaccine news flow and regulatory uncertainty out of HHS/FDA, including this week's appointment of Dr. Vinay Prasad as head of CBER, continue to put pressure on shares.
Vaxcyte (PCVX) vs. S&P 500 (SPY)
Market Cap
$3.77B
Dividend YieldN/A
Average Volume (3M)3.21M
Price to Earnings (P/E)―
Beta (1Y)1.45
Revenue GrowthN/A
EPS Growth7.75%
CountryUS
Employees414
SectorHealthcare
Sector Strength50
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.04
Shares Outstanding128,999,340
10 Day Avg. Volume2,096,230
30 Day Avg. Volume3,213,997
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap2.27
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$117.88Price Target Upside278.31% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
Vaxcyte Business Overview & Revenue Model
Company DescriptionVaxcyte, Inc. (PCVX) is a biotechnology company focused on developing innovative vaccines for the prevention of infectious diseases. Operating within the pharmaceutical and biotechnology sectors, Vaxcyte's core product offerings include conjugate and protein-based vaccines designed to address significant unmet medical needs. The company's lead vaccine candidates aim to provide comprehensive protection against pneumococcal infections and other bacterial pathogens.
How the Company Makes MoneyVaxcyte makes money primarily through the development and commercialization of its vaccine candidates. The company's revenue model involves research and development (R&D) investments to advance its vaccine pipeline through clinical trials, regulatory approval, and ultimately, market launch. Key revenue streams include potential product sales, milestone payments, and royalties from partnerships or licensing agreements with other pharmaceutical companies. Additionally, Vaxcyte may benefit from government grants or funding to support vaccine development. Strategic collaborations with industry partners can also contribute to its earnings by sharing development costs and expanding market reach upon commercialization.
Vaxcyte Financial Statement Overview
Summary
Vaxcyte is in a typical financial position for a biotech firm at its stage: no revenue, significant R&D investment, and reliance on financing to maintain liquidity. The strong equity base and cash reserves provide a buffer against short-term challenges, but the company needs to transition to revenue generation to improve its financial health in the long term.Income Statement
Vaxcyte has consistently reported no revenue, which is typical for early-stage biotechnology companies focusing on product development. The company has a negative EBIT and EBITDA, indicating ongoing operational losses. The net income has been negative over the years, reflecting substantial R&D and operating expenses without offsetting revenue. However, this is a standard profile for a biotech firm in the development phase.―
Balance Sheet
The company's balance sheet shows strong liquidity, with cash and short-term investments significantly exceeding total debt, resulting in a negative net debt. The stockholders' equity is robust, and the equity ratio is high, indicating financial stability. However, the lack of revenue generation and increasing liabilities over time are potential concerns if the trend continues without revenue.60
Cash Flow
Operating cash flow is negative, reflecting the company's pre-revenue stage and heavy investment in R&D. Free cash flow is also negative, though financing activities have been strong, suggesting continued investor confidence. The company has maintained its cash position through financing, offsetting the negative cash flow from operations.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | Gross Profit |
| 0.00 | -75.00M | -9.20M | -1.80M | -1.41M | EBIT |
| -569.55M | -468.04M | -232.26M | -103.67M | -89.58M | EBITDA |
| -569.55M | -464.88M | -214.29M | -98.28M | -87.81M | Net Income Common Stockholders |
| -463.93M | -402.27M | -239.64M | -100.08M | -87.82M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 1.75B | 1.08B | 931.38M | 245.97M | 386.20M | Total Assets |
| 3.51B | 1.41B | 1.01B | 324.34M | 392.83M | Total Debt |
| 71.11M | 29.22M | 17.94M | 16.78M | 0.00 | Net Debt |
| -316.77M | -368.23M | -816.72M | -52.20M | -386.20M | Total Liabilities |
| 205.50M | 167.45M | 52.56M | 40.32M | 46.98M | Stockholders Equity |
| 3.31B | 1.24B | 953.61M | 284.02M | 345.84M |
| Cash Flow | Free Cash Flow | |||
| -475.05M | -364.67M | -176.44M | -127.95M | -47.78M | Operating Cash Flow |
| -452.63M | -296.79M | -170.60M | -121.39M | -46.63M | Investing Cash Flow |
| -2.01B | -773.31M | 74.58M | -212.31M | -1.10M | Financing Cash Flow |
| 2.45B | 639.81M | 861.55M | 17.80M | 374.87M |
Vaxcyte Technical Analysis
Negative
31.16
Price Trends
49.13
Negative
67.21
Negative
82.62
Negative
Market Momentum
-4.35
Negative
36.73
Neutral
28.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PCVX, the sentiment is Negative. The current price of 31.16 is below the 20-day moving average (MA) of 32.24, below the 50-day MA of 49.13, and below the 200-day MA of 82.62, indicating a bearish trend. The MACD of -4.35 indicates Negative momentum. The RSI at 36.73 is Neutral, neither overbought nor oversold. The STOCH value of 28.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PCVX.
Vaxcyte Risk Analysis
Vaxcyte disclosed 70 risk factors in its most recent earnings report. Vaxcyte reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Vaxcyte Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $5.61B | 29.29 | 78.45% | ― | 62.22% | ― | |
68 Neutral | $5.97B | ― | -72.73% | ― | ― | -157.53% | |
52 Neutral | $5.17B | 3.59 | -42.19% | 2.82% | 15.05% | -0.04% | |
52 Neutral | $5.07B | ― | -118.53% | ― | -7.65% | -11.81% | |
51 Neutral | $3.36B | ― | -32.05% | ― | 43.72% | 28.63% | |
50 Neutral | $3.77B | ― | -19.66% | ― | ― | 7.75% | |
35 Underperform | $4.05B | ― | 435.49% | ― | 412.21% | 1.75% |
* Healthcare Sector Average
Performance Comparison
PCVX
Vaxcyte
31.16
-34.54
-52.57%
CYTK
Cytokinetics
31.70
-26.19
-45.24%
IONS
Ionis Pharmaceuticals
32.26
-6.54
-16.86%
ADMA
ADMA Biologics
19.98
11.19
127.30%
VRNA
Verona Pharma
63.32
49.44
356.20%
ZLAB
Zai Lab
29.24
7.72
35.87%
Vaxcyte Earnings Call Summary
Earnings Call Date:May 07, 2025
(Q4-2024)
| % Change Since: 7.45%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Positive
The earnings call highlighted Vaxcyte's strong financial position, significant clinical and manufacturing progress, and proactive regulatory engagement. However, challenges include increased expenses, potential regulatory uncertainties, and the need to meet non-inferiority criteria in clinical studies. Vaxcyte remains optimistic about its pipeline and future growth.Q4-2024 Updates
Positive Updates
Strong Financial Position
Vaxcyte ended 2024 with $3.13 billion in cash, cash equivalents, and investments, bolstered by $2.2 billion from successful equity offerings.
VAX-31 Clinical Success
VAX-31 showed strong Phase 1/2 results in adults, leading to its advancement to Phase 3, with Breakthrough Therapy Designation granted by the FDA.
Manufacturing Expansion
Vaxcyte is building a dedicated manufacturing suite with Lonza, on track for completion by early next year, supporting future global supply.
Progress in Early-Stage Vaccine Candidates
Vaxcyte continues to advance vaccine candidates against AMR threats, including VAX-A1 for Group A Strep.
Regulatory Engagement
Vaxcyte established a public affairs function, enhancing engagement with policymakers to support vaccine innovation.
Negative Updates
Increased Expenses
R&D and G&A expenses increased in 2024 due to development, manufacturing, and personnel costs, with further increases expected in 2025.
Regulatory Uncertainty
Potential changes in vaccine policies under the new administration could impact future vaccine schedules and recommendations.
Challenges in Achieving Non-Inferiority
Concerns about meeting non-inferiority criteria in upcoming Phase 2 and 3 studies, especially given historical precedents of serotype misses.
Company Guidance
During the Vaxcyte fourth quarter and full year 2024 earnings call, key guidance was provided on the company's financial and operational outlook. As of December 31, 2024, Vaxcyte reported a strong financial position with $3.13 billion in cash, cash equivalents, and investments. The company anticipates significant increases in R&D and G&A expenses in 2025, primarily driven by manufacturing investments for the VAX-31 adult Phase 3 clinical program and the growth in personnel. Vaxcyte's dedicated manufacturing suite at Lonza is on track to be completed by early 2025, with $127.8 million in additional capital expenditures in 2024, bringing the total project cost to $214.3 million. Operationally, the company is advancing its PCV franchise, with the VAX-31 adult Phase 3 pivotal study expected to initiate by mid-2025 and top-line data anticipated in 2026. Additionally, Vaxcyte is progressing its VAX-24 and VAX-31 infant programs, with the first key dataset for VAX-31 expected by mid-2026. These efforts are supported by a robust pipeline aimed at addressing bacterial threats and antimicrobial resistance, ensuring Vaxcyte is well-prepared for sustainable growth and future vaccine launches.Vaxcyte Corporate Events
Executive/Board Changes
Vaxcyte Appoints Dr. Olivier Brandicourt to Board
Neutral
May 1, 2025
On May 1, 2025, Vaxcyte, Inc. appointed Dr. Olivier Brandicourt to its Board of Directors as a Class III director, effective immediately, with his term ending at the 2026 annual stockholders meeting. Dr. Brandicourt is recognized as an independent director under Nasdaq rules, with no existing arrangements or transactions with the company that require disclosure. As part of his appointment, Dr. Brandicourt will receive an initial equity award valued at $800,000, vesting over 36 months, and an annual equity award valued at $450,000, alongside a $50,000 annual cash retainer, all subject to his continuous service.
Spark’s Take on PCVX Stock
According to Spark, TipRanks’ AI Analyst, PCVX is a Neutral.
Vaxcyte’s stock score reflects its position as a development-stage biotech firm with no revenue, high R&D expenses, and reliance on financing. The technical analysis indicates a bearish trend, while valuation metrics show challenges due to negative earnings. However, the company’s robust pipeline and recent positive clinical results provide optimism for the future. The earnings call and corporate events signal potential for growth, but regulatory and financial challenges remain.
To see Spark’s full report on PCVX stock, click here.
Product-Related AnnouncementsBusiness Operations and Strategy
Vaxcyte Announces Positive Phase 2 Results for VAX-24
Positive
Mar 31, 2025
On March 31, 2025, Vaxcyte announced positive results from its Phase 2 study of VAX-24, a 24-valent pneumococcal conjugate vaccine candidate for infants, showing it was well-tolerated and elicited strong immune responses. The company plans to advance the VAX-24 Mid dose to a potential Phase 3 program, pending further study results, and has also announced the development of VAX-XL, a third-generation PCV candidate. These developments reinforce Vaxcyte’s commitment to expanding vaccine coverage and addressing the global burden of pneumococcal disease, with significant implications for future clinical programs and market positioning.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.