• EN

    • -+ 0.00%
    -+ 0.00%
    -+ 0.00%

    Vaxcyte (PCVX): Reassessing Valuation After OPUS Phase 3 Trial Start for Next-Generation Pneumococcal Vaccine

    Simply Wall St·12/09/2025 17:28:48
    Listen to the news

    Vaxcyte (PCVX) just hit a key milestone by dosing the first participants in its OPUS Phase 3 trial of VAX-31, a head-to-head study against current adult pneumococcal vaccines that supports its future approval plans.

    See our latest analysis for Vaxcyte.

    That backdrop helps explain why, even with a sharp year to date share price return of minus 44.56 percent and a one year total shareholder return of minus 49.84 percent, the recent three month share price rebound of 41.14 percent suggests sentiment is cautiously rebuilding around Vaxcyte at 46.18 dollars a share.

    If this kind of late stage pipeline momentum has your attention, it could be a good moment to explore other specialist names in healthcare stocks for fresh ideas.

    With shares still trading at barely half of Wall Street’s target despite recent momentum, is Vaxcyte a mispriced late stage vaccine contender, or are investors already baking in every ounce of future growth?

    Price-To-Book of 2.1x: Is it justified?

    On a price to book basis, Vaxcyte trades at 2.1 times, a notable discount to many biotech peers despite its recent share price recovery.

    The price to book ratio compares a company’s market value to the net assets on its balance sheet. This can be a useful lens for pre revenue, loss making biotech names where earnings metrics are not yet meaningful. For Vaxcyte, this yardstick helps frame what investors are paying today for its cash, platform and late stage vaccine pipeline.

    Relative to its direct peer set, where the average price to book stands at 12.3 times, Vaxcyte’s 2.1 times multiple indicates that the market is assigning a much lower premium to its assets than to competitors. The same pattern holds at the broader industry level, with the US biotech sector on 2.7 times book. This underscores that Vaxcyte currently screens as inexpensive on this commonly watched valuation gauge.

    See what the numbers say about this price — find out in our valuation breakdown.

    Result: Price-to-Book of 2.1x (UNDERVALUED)

    However, setbacks in late stage trials or further dilution to fund its cash-burning pipeline could quickly erode confidence in the current recovery story.

    Find out about the key risks to this Vaxcyte narrative.

    Build Your Own Vaxcyte Narrative

    If you would rather dig into the numbers yourself and shape your own story around Vaxcyte, you can build a tailored view in minutes: Do it your way.

    A great starting point for your Vaxcyte research is our analysis highlighting 1 key reward and 2 important warning signs that could impact your investment decision.

    Looking for more investment ideas?

    Before the next catalyst hits, give yourself options by scanning other opportunities on Simply Wall Street’s Screener so your portfolio is ready, not reactive.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.