Vaxcyte Commences $500M Public Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 12h ago
0mins
Vaxcyte announced that it has commenced an underwritten public offering of $500M of its common stock and pre-funded warrants. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Vaxcyte. BofA Securities, Jefferies, Leerink Partners, Evercore ISI and Guggenheim Securities are acting as joint book-running managers for the offering.
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Analyst Views on PCVX
Wall Street analysts forecast PCVX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PCVX is 104.80 USD with a low forecast of 50.00 USD and a high forecast of 163.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
6 Buy
0 Hold
0 Sell
Strong Buy
Current: 51.370
Low
50.00
Averages
104.80
High
163.00
Current: 51.370
Low
50.00
Averages
104.80
High
163.00
About PCVX
Vaxcyte Inc. is a clinical-stage vaccine innovation company. The Company is engaged in developing spectrum conjugate and protein vaccines to prevent or treat bacterial infectious diseases. Its pipeline includes VAX-31, a 31-valent PCV candidate advancing to a Phase III adult clinical program and being evaluated in a Phase II infant clinical program, which is being developed for the prevention of invasive pneumococcal disease (IPD) in adults and infants and is the broadest-spectrum pneumococcal conjugate vaccine (PCV) candidate in the clinic. VAX-24, the Company’s 24-valent PCV candidate, is designed to cover more serotypes than any infant PCV on-market and is being evaluated in a Phase II infant study. Its pipeline also includes VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Strep infections; VAX-PG, a therapeutic vaccine candidate designed to slow or stop the progression of periodontal disease; and VAX-GI, a vaccine candidate designed to prevent Shigella.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Vaxcyte Prices Public Offering at $550 Million
- Offering Size: Vaxcyte announced the pricing of 11 million shares at $50.00 each, aiming for gross proceeds of $550 million, reflecting strong market confidence in its vaccine innovations.
- Underwriter Arrangement: The offering is managed by prominent financial institutions including BofA Securities and Jefferies, indicating positive market expectations for Vaxcyte's future growth and enhancing investor confidence.
- Additional Share Option: Vaxcyte granted underwriters a 30-day option to purchase an additional 1.65 million shares at the same price, a strategy that could further enhance the company's financing capabilities and support its R&D initiatives.
- Closing Timeline: The offering is expected to close on February 2, 2026, and if successful, will provide Vaxcyte with ample funding to support its vaccine development and market expansion plans.
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Vaxcyte Initiates Phase 3 Trials for VAX-31, Market Cap Around $7 Billion
- Vaccine Development Progress: Vaxcyte has initiated the Phase 3 OPUS-2 trial for VAX-31 in participants aged 50 and above, aiming to enroll around 1,300 individuals, showcasing the company's potential leadership in pneumococcal disease prevention.
- Manufacturing Investment: The company plans to start a custom fill-finish line in North Carolina in Q1 2026 with a $1 billion investment, enhancing its vaccine manufacturing capabilities and further solidifying its market position.
- Clinical Trial Timeline: Topline data from both OPUS-2 and OPUS-3 trials are expected in the first half of 2027, indicating Vaxcyte's strong commitment to expanding its vaccine portfolio, which could drive future revenue growth.
- Strong Market Performance: Despite mixed market conditions, Vaxcyte's stock rose 2.06% to $54.94, reflecting investor confidence in its growth potential, with analysts giving a consensus Buy rating and an average price target of $125.
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