Zacks Investment Research Upgrades Dynavax Technologies Corp. (DVAX) to Hold
Dynavax Technologies Corp. (NASDAQ:DVAX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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. “
A number of other research analysts have also weighed in on DVAX. S&P Equity Research raised their price target on shares of Dynavax Technologies Corp. from $11.28 to $16.01 in a research note on Friday, September 2nd. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of Dynavax Technologies Corp. in a research note on Wednesday, September 7th. Cowen and Company reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Dynavax Technologies Corp. in a research note on Tuesday, September 6th. Finally, William Blair reaffirmed a “buy” rating and issued a $45.00 price target on shares of Dynavax Technologies Corp. in a research note on Tuesday, September 6th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Dynavax Technologies Corp. presently has an average rating of “Hold” and an average price target of $25.86.
Dynavax Technologies Corp. (NASDAQ:DVAX) opened at 10.49 on Thursday. The company’s market cap is $403.83 million. The stock’s 50 day moving average price is $13.60 and its 200-day moving average price is $15.91. Dynavax Technologies Corp. has a 1-year low of $10.11 and a 1-year high of $29.86.
Dynavax Technologies Corp. (NASDAQ:DVAX) last posted its earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) 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 firm had revenue of $2.65 million for the quarter, compared to analysts’ expectations of $1.58 million. During the same period in the previous year, the company earned ($0.80) earnings per share. The company’s revenue was up 70.8% compared to the same quarter last year. On average, analysts forecast that Dynavax Technologies Corp. will post ($2.96) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Dynavax Technologies Corp. by 19.2% in the first quarter. Legal & General Group Plc now owns 6,235 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 1,003 shares during the period. Meeder Asset Management Inc. acquired a new position in Dynavax Technologies Corp. during the second quarter worth $107,000. Alpine Partners VI LLC acquired a new position in Dynavax Technologies Corp. during the first quarter worth $192,000. Boston Advisors LLC raised its position in Dynavax Technologies Corp. by 1.3% in the second quarter. Boston Advisors LLC now owns 12,330 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 155 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Dynavax Technologies Corp. by 12.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 15,836 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 1,779 shares during the period. 83.82% of the stock is currently owned by institutional investors and hedge funds.
Dynavax Technologies Corp. Company Profile
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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