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PCVXVaxcyte, Inc.
$65.02$10.3B
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PCVX logo

Vaxcyte, Inc.

PCVX
NASDAQ · Biotechnology
$65.02
At close - Oct 8, 4:00 PM EDT - USD
Market Cap$9.39B
P/E-11.5x
52W High$90.75
Volume3.85M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Pre-Revenue R&D Escalation Drives Accelerating Cash Burn

Vaxcyte is a pre-revenue biotech with no approved products, and its investment case hinges entirely on the success of its pneumococcal conjugate vaccine pipeline. The company's R&D spending has surged 183% from $94.6M in 2024Q1 to $267.9M in 2026Q2, driving ne...

GrowthDecelerating
ProfitabilityNegative
ValuationReview
TechnicalsStrong
Explore valuation models
MARKET ACTION

PCVX price & volume

Price trend, volume and key moving averages

Launch Terminal
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Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

4/12 Beats

EPS beat 4 of last 12 quarters

02

Valuation risk

-172% Peers

P/E is 172% below peer median

03

Market leadership

RS 68 · Avg

Average momentum (RS Rating: 68)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Nov 5
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Vaxcyte remains pre-revenue with no product sales, and R&D expenses dominate the cost structure, escalating from $94.6M in 2024Q1 to $267.9M in 2026Q2, while net losses widened to $284.3M in 2026Q2.

Analyst Consensus+62.4% target
Buy(11 analysts)
11 Buy0 Hold0 Sell

The Bull Case

Upside Catalysts

Strong vaccine pipeline

Vaxcyte is developing innovative vaccines for infectious diseases, including a promising Group A Streptococcus vaccine candidate currently in Phase 1 trials.

Market leadership potential

The bull case projects Vaxcyte becoming a dominant player in the vaccine space with potential annual revenues exceeding $5 billion.

Positive clinical trial progress

Recent Phase 2 results for VAX-31 pneumococcal vaccine show strong potential, positioning the company for future success in the vaccine market.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 10/10/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
PCVX+39.94%
S&P 500 (^GSPC)+13.29%
1-Year Return
PCVX+59.59%
S&P 500 (^GSPC)+14.98%
3-Year Return
PCVX+32.31%
S&P 500 (^GSPC)+74.22%
5-Year Return
PCVX+169.21%
S&P 500 (^GSPC)+70.23%

Growth & profitability

Annual revenue & EPS trend
Revenue
-
Net income
-$767M-65.2% YoY
Free cash flow
-$669M-40.9% YoY
Operating margin
-
ROIC (TTM)-24.2%
Avg ROIC 5Y-
ROE (TTM)-25.6%
Piotroski Score1 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate4/12 (33%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 5, 2026
-$1.97+4.4%
vs -$2.06
—
vs $13M
Q2 2026
May 6, 2026
-$2.30-29.4%
vs -$1.78
—
vs $13M
Q1 2026
Feb 24, 2026
-$1.80-17.7%
vs -$1.53
—
vs $19M
Q4 2025
Nov 4, 2025
-$1.56-22.8%
vs -$1.27
—
vs —
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Zacks Investment Research·Sep 22, 2026
4 Biotech Stocks With Key Clinical Readouts Expected This Fall

KOD, CLDX, RAPP and PCVX face key clinical readouts this fall that could influence their drug and vaccine pipelines.

Defense World·Sep 15, 2026
California State Teachers Retirement System Has $475.89 Million Stake in Vaxcyte, Inc. $PCVX

California State Teachers Retirement System boosted its position in Vaxcyte, Inc. (NASDAQ: PCVX) by 5,915.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,186,622 shares of the company's stock after buying an additional 8,050,522 shares during the quarter. California State Teachers

Defense World·Sep 9, 2026
Vaxcyte Target of Unusually High Options Trading (NASDAQ:PCVX)

Vaxcyte, Inc. (NASDAQ: PCVX - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 3,549 put options on the company. This is an increase of approximately 52% compared to the typical daily volume of 2,333 put options. Analyst Ratings Changes Several equities analysts have recently issued reports on the

The Motley Fool·Sep 8, 2026
Vaxcyte Has $2.5 Billion in Cash and a $605 Million Half-Year Loss. Here's How to Read Its CFO's Latest Insider Filing

Andrew Guggenhime surrendered 2,705 shares at $61.18 per share on August 31 and September 2, representing a transaction value of $165,492. The transaction size represents 2% of the total equity stake held before the filing.

Filtered for Vaxcyte, Inc.More Headlines
04

Compare before deciding

Benchmark PCVX against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Vaxcyte, Inc. (PCVX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
PCVX logoPCVXVaxcyte, Inc.Current
$65.02$9.39B-11.55——-25.59%—
PFE logoPFEPfizer Inc.
$27.82$158.56B20.46-1.65%6.81%4.87%—
MRK logoMRKMerck & Co., Inc.
$142.40$351.69B19.561.18%4.78%6.59%—
GSK logoGSKGSK plc
$46.54$93.24B12.684.11%14.52%24.99%—
SNY logoSNYSanofi
$40.23$96.6B11.245.49%8.09%5.5%—
BNTX logoBNTXBioNTech SE
$92.06$23.13B-18.250.2%-64.02%-9.13%—

Compare PCVX vs Peers

Vaxcyte, Inc. (PCVX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PFE

Most directly comparable listed peer for PCVX.

Scale Benchmark

vs MRK

Larger-name benchmark to compare PCVX against a more recognizable public peer.

Peer Set

Compare Top 5

vs PFE, MRK, GSK, SNY

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

PCVX SEC Filings & Documents

Vaxcyte, Inc. (PCVX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 5, 2026·SEC

Material company update

Jul 15, 2026·SEC

Material company update

Jun 23, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 27, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 5, 2026·SEC

FY 2026

May 6, 2026·SEC

FY 2025

Nov 4, 2025·SEC

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PCVX Frequently Asked Questions

Vaxcyte, Inc. (PCVX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
Is PCVX profitable?

Vaxcyte, Inc. (PCVX) reported a net loss of $1.06B for fiscal year 2025.

Dividend & Returns
What is PCVX's return on equity?

Vaxcyte, Inc. (PCVX) has a return on equity (ROE) of -25.6%. Negative ROE indicates the company is unprofitable.

What is Vaxcyte, Inc.'s free cash flow?

Vaxcyte, Inc. (PCVX) had negative free cash flow of $1.20B in fiscal year 2025, likely due to heavy capital investments.

What if you invested $1,000 in PCVX back in 2017?

Total return calculator · dividends reinvested · 9+ years of data

See returns →