Dynavax Technologies Corp. (NASDAQ:DVAX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Dynavax Technologies discovers, develops, and intends to commercialize innovative products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using versatile, proprietary approaches that alter immune system responses in highly specific ways. Dynavax’s clinical development programs are based on immunostimulatory sequences which are short DNA sequences that enhance the ability of the immune system to fight disease and control chronic inflammation. “
Several other brokerages have also weighed in on DVAX. William Blair restated a “buy” rating and set a $45.00 target price on shares of Dynavax Technologies Corp. in a research report on Tuesday, September 6th. S&P Equity Research upped their target price on shares of Dynavax Technologies Corp. from $11.28 to $16.01 in a research report on Friday, September 2nd. RBC Capital Markets restated a “sector perform” rating and set a $16.00 target price on shares of Dynavax Technologies Corp. in a research report on Wednesday, September 7th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Dynavax Technologies Corp. in a report on Tuesday, September 6th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $25.86.
Shares of Dynavax Technologies Corp. (NASDAQ:DVAX) opened at 10.49 on Thursday. The firm’s market cap is $403.83 million. Dynavax Technologies Corp. has a one year low of $10.11 and a one year high of $29.86. The stock’s 50 day moving average is $13.60 and its 200-day moving average is $15.91.
Dynavax Technologies Corp. (NASDAQ:DVAX) last issued its earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.68) by $0.07. Dynavax Technologies Corp. had a negative return on equity of 64.43% and a negative net margin of 2,068.75%. The company had revenue of $2.65 million for the quarter, compared to analyst estimates of $1.58 million. During the same quarter in the previous year, the company posted ($0.80) earnings per share. The company’s quarterly revenue was up 70.8% compared to the same quarter last year. Analysts anticipate that Dynavax Technologies Corp. will post ($2.96) EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in DVAX. Franklin Resources Inc. increased its position in shares of Dynavax Technologies Corp. by 19.7% in the first quarter. Franklin Resources Inc. now owns 978,730 shares of the biopharmaceutical company’s stock valued at $18,831,000 after buying an additional 161,400 shares during the last quarter. Royce & Associates LP increased its position in shares of Dynavax Technologies Corp. by 43.1% in the first quarter. Royce & Associates LP now owns 299,000 shares of the biopharmaceutical company’s stock valued at $5,753,000 after buying an additional 90,000 shares during the last quarter. Clovis Capital Management LP increased its position in shares of Dynavax Technologies Corp. by 97.8% in the first quarter. Clovis Capital Management LP now owns 426,245 shares of the biopharmaceutical company’s stock valued at $8,201,000 after buying an additional 210,766 shares during the last quarter. Alpine Partners VI LLC purchased a new position in shares of Dynavax Technologies Corp. during the first quarter valued at about $192,000. Finally, State Street Corp increased its position in shares of Dynavax Technologies Corp. by 49.1% in the first quarter. State Street Corp now owns 1,665,452 shares of the biopharmaceutical company’s stock valued at $32,038,000 after buying an additional 548,310 shares during the last quarter. 83.82% of the stock is currently owned by institutional investors and hedge funds.
About Dynavax Technologies Corp.
Dynavax Technologies Corporation (Dynavax) is a clinical-stage biopharmaceutical company. The Company uses toll-like receptor (TLR) biology to discover and develop vaccines and therapeutics. Its development programs are focused on vaccines and cancer immunotherapy. The Company’s lead vaccine product candidate is HEPLISAV-B, an investigational adult hepatitis B vaccine, which combines its TLR9 agonist adjuvant and recombinant hepatitis B surface antigen (rHBsAg).
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