Dynavax Technologies (DVAX) Receives “Overweight” Rating from Cantor Fitzgerald
Cantor Fitzgerald reaffirmed their overweight rating on shares of Dynavax Technologies (NASDAQ:DVAX) in a research report released on Thursday morning, Marketbeat.com reports. Cantor Fitzgerald currently has a $27.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $25.00.
“HEPLISAV-B Launched. Dynavax reported HEPLISAV-B, a two-dose hepatitis B vaccine, has been launched in the U.S. with a 60-person field sales team (over previous 50-person estimate) covering 75% of the market. HEPLISAV-B was recommended by the CDC for use in the vaccination of adults, which the company believes is critical to drive broad insurance coverage and adoption. As previously reported, the company has a drug supply of over 250,000 vials, with an additional 750,000 vials worth of raw material. We believe this is supply is sufficient for over two years.”,” the firm’s analyst wrote.
Several other analysts have also recently commented on the company. Cowen reaffirmed a buy rating and issued a $30.00 target price on shares of Dynavax Technologies in a research report on Wednesday, February 21st. JPMorgan Chase & Co. cut Dynavax Technologies from an overweight rating to a neutral rating and decreased their target price for the stock from $31.00 to $25.00 in a research report on Wednesday, February 14th. BidaskClub raised Dynavax Technologies from a sell rating to a hold rating in a research report on Monday, February 5th. Zacks Investment Research cut Dynavax Technologies from a hold rating to a sell rating in a research report on Wednesday, January 10th. Finally, ValuEngine cut Dynavax Technologies from a hold rating to a sell rating in a research report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Dynavax Technologies presently has a consensus rating of Hold and a consensus price target of $24.67.
Dynavax Technologies (NASDAQ:DVAX) last released its quarterly earnings data on Thursday, March 8th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.32). The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.53 million. Dynavax Technologies had a negative return on equity of 62.50% and a negative net margin of 29,099.08%. equities research analysts forecast that Dynavax Technologies will post -1.62 earnings per share for the current fiscal year.
In related news, VP David Louis Johnson sold 3,092 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $18.60, for a total transaction of $57,511.20. Following the completion of the sale, the vice president now directly owns 7,780 shares in the company, valued at $144,708. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert Coffman sold 7,500 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $18.90, for a total value of $141,750.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Dynavax Technologies by 29.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 235,310 shares of the biopharmaceutical company’s stock worth $5,060,000 after acquiring an additional 54,149 shares in the last quarter. Swiss National Bank raised its holdings in shares of Dynavax Technologies by 40.7% during the third quarter. Swiss National Bank now owns 99,878 shares of the biopharmaceutical company’s stock worth $2,147,000 after acquiring an additional 28,900 shares in the last quarter. First Republic Investment Management Inc. purchased a new stake in shares of Dynavax Technologies during the third quarter worth $2,414,000. Bank of New York Mellon Corp raised its holdings in shares of Dynavax Technologies by 43.4% during the third quarter. Bank of New York Mellon Corp now owns 359,650 shares of the biopharmaceutical company’s stock worth $7,733,000 after acquiring an additional 108,788 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Dynavax Technologies by 29.4% during the second quarter. New York State Common Retirement Fund now owns 52,400 shares of the biopharmaceutical company’s stock worth $506,000 after acquiring an additional 11,899 shares in the last quarter. Institutional investors and hedge funds own 72.52% of the company’s stock.
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Dynavax Technologies Company Profile
Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body’s innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.
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