Vaxcyte, Inc. Common Stock
PCVX
$60.67
+6.51%
Vaxcyte is a clinical-stage biotechnology company focused on developing high-fidelity vaccines to prevent bacterial diseases, utilizing its proprietary XpressCF cell-free protein synthesis platform. The company is a pioneer in next-generation pneumococcal conjugate vaccines (PCVs), with a pipeline including VAX-31, VAX-24, and VAX-XL targeting adult and pediatric indications. Investor attention centers on the potential of VAX-31 to capture significant market share in the large pneumococcal vaccine market, driven by recent positive clinical data and a strong cash position to fund development. The stock's narrative is shaped by upcoming regulatory milestones and the competitive landscape against established players like Pfizer and Merck.…
PCVX
Vaxcyte, Inc. Common Stock
$60.67
PCVX 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Vaxcyte, Inc. Common Stock's 12-month outlook, with a consensus price target around $78.87 and implied upside of +30.0% versus the current price.
Average Target
$78.87
7 analysts
Implied Upside
+30.0%
vs. current price
Analyst Count
7
covering this stock
Price Range
$49 - $79
Analyst target range
Vaxcyte is covered by 7 analysts, with a consensus Buy rating (all 7 rate it Buy, no Holds or Sells). The average analyst target price is not explicitly provided, but based on the estimated EPS and revenue data, we can infer a target. However, the provided data includes estimated EPS of $6.39 and revenue of $2.5 billion, which appear to be forward estimates for a future year (likely 2027 or 2028). Assuming these estimates are for the next fiscal year, the implied forward P/E would be 58.39 / 6.39 = 9.1x, which is low for a biotech, suggesting analysts expect significant profitability. The consensus is strongly bullish, with all analysts maintaining Buy ratings and recent upgrades from firms like BTIG, Guggenheim, Needham, B of A Securities, and Goldman Sachs. The average target price is not directly given, but if we assume a target based on the estimated EPS of $6.39 and a reasonable P/E of 20x, the target would be ~$128, implying over 100% upside. However, this is speculative. The range of targets is not provided, but given the early stage, the spread is likely wide. The high target likely assumes successful commercialization of VAX-31 and peak sales of $7 billion (as indicated in revenue segments), while the low target may reflect pipeline failure risk. The unanimous Buy consensus and recent upgrades signal strong conviction among analysts, but the lack of a specific average target limits precision.
PCVX Technical Analysis
PCVX is in a strong long-term uptrend, with the stock up 75.5% over the past year, significantly outperforming the S&P 500's 19.1% gain. The current price of $58.39 sits at 89.8% of its 52-week range ($29.08 to $65.00), indicating the stock is near the top of its range, reflecting robust momentum and investor optimism. This positioning near highs suggests sustained buying interest but also potential for short-term overextension. Short-term momentum is mixed: the 1-month return is +23.2%, while the 3-month return is essentially flat at +0.02%, indicating a sharp recent rally after a period of consolidation. The divergence between the strong 1-month and flat 3-month performance suggests the stock may be experiencing a breakout from a prior consolidation phase, but the rapid gain could invite profit-taking. The relative strength versus the S&P 500 over 1 month is +24.4%, confirming recent outperformance. Key support lies at the 52-week low of $29.08, while resistance is at the 52-week high of $65.00. A breakout above $65 would signal a continuation of the uptrend, potentially targeting new highs, while a breakdown below recent support near $46 (the June low) could indicate a trend reversal. With a beta of 1.22, PCVX is 22% more volatile than the market, meaning it amplifies market moves, which is important for risk management.
Beta
1.22
1.22x market volatility
Max Drawdown
-27.9%
Largest decline past year
52-Week Range
$29-$65
Price range past year
Annual Return
+89.6%
Cumulative gain past year
| Period | PCVX Return | S&P 500 |
|---|---|---|
| 1m | +28.1% | +1.4% |
| 3m | +0.9% | +10.6% |
| 6m | +33.9% | +8.4% |
| 1y | +89.6% | +20.5% |
| ytd | +30.6% | +9.7% |
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PCVX Fundamental Analysis
Vaxcyte is a pre-revenue clinical-stage company, reporting zero revenue in the most recent quarter (Q4 2025) and for all historical periods. The company's growth trajectory is entirely dependent on pipeline advancement, with no product sales to date. The focus is on R&D spending, which totaled $242.1 million in Q4 2025, up from $133.6 million in Q4 2024, reflecting increased investment in late-stage trials. The company is deeply unprofitable, with a net loss of $246.5 million in Q4 2025, compared to a loss of $137.1 million in the year-ago quarter. Gross margin is not applicable as there is no revenue; operating margin is negative 100% due to R&D and G&A expenses. The net loss has widened over the past year, from -$137.1M in Q4 2024 to -$246.5M in Q4 2025, indicating increasing cash burn as trials progress. The balance sheet is strong: Vaxcyte had $175.4 million in cash at end of Q4 2025, with a current ratio of 7.9 and a debt-to-equity ratio of just 0.085, indicating minimal leverage. However, free cash flow was negative $219.3 million in Q4 2025, and the trailing twelve-month free cash flow was -$669.3 million, meaning the company is heavily reliant on external financing (equity offerings) to fund operations. The negative FCF yield of -9.6% (based on market cap) underscores the cash burn.
Quarterly Revenue
$0.0B
2025-12
Revenue YoY Growth
N/A
YoY Comparison
Gross Margin
N/A
Latest Quarter
Free Cash Flow
$-669290000.0B
Last 12 Months
Revenue Breakdown
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Valuation Analysis: Is PCVX Overvalued?
Since Vaxcyte has negative net income (net loss of $246.5M in Q4 2025), the P/E ratio is not meaningful. Therefore, we use the Price-to-Sales (P/S) ratio as the primary valuation metric, but since revenue is zero, the P/S ratio is undefined. Instead, we consider the Price-to-Book (P/B) ratio of 2.34 and the negative EV/EBITDA of -8.54. The P/B ratio of 2.34x is the most relevant metric, as it compares market cap to book value. There is no forward P/E or P/S available due to lack of profitability and revenue. The company's valuation is based on pipeline potential rather than current financials. Compared to the biotechnology industry average P/B of approximately 4.0x (estimated), Vaxcyte's P/B of 2.34x represents a 41.5% discount, which may reflect the pre-revenue stage and high cash burn. However, the company's strong balance sheet and promising pipeline could justify a premium if clinical data is positive. Historically, Vaxcyte's P/B ratio has ranged from about 1.4x (Q2 2025) to 5.3x (Q4 2023). The current P/B of 2.34x is near the lower end of its historical range, suggesting the stock is not overvalued relative to its own history, but this could also indicate market skepticism about near-term prospects.
PE
-8.2x
Latest Quarter
vs. Historical
High-End
5-Year PE Range -34x~-6x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
-8.5x
Enterprise Value Multiple