Zacks Investment Research upgraded shares of Dynavax Technologies (NASDAQ:DVAX) from a sell rating to a hold rating in a research report sent 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. “
DVAX has been the subject of a number of other research reports. Cantor Fitzgerald set a $30.00 target price on Dynavax Technologies and gave the stock a buy rating in a report on Friday, October 19th. BidaskClub upgraded Dynavax Technologies from a strong sell rating to a sell rating in a report on Thursday, October 11th. Cowen reiterated a buy rating and set a $30.00 target price on shares of Dynavax Technologies in a report on Tuesday, November 6th. ValuEngine upgraded Dynavax Technologies from a sell rating to a hold rating in a report on Tuesday, October 23rd. Finally, Royal Bank of Canada decreased their price objective on Dynavax Technologies from $26.00 to $25.00 and set an outperform rating for the company in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Dynavax Technologies currently has an average rating of Hold and a consensus target price of $28.00.
Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.08). Dynavax Technologies had a negative return on equity of 97.79% and a negative net margin of 5,044.85%. The company had revenue of $1.46 million for the quarter, compared to the consensus estimate of $3.16 million. During the same period in the prior year, the company earned ($0.38) EPS. The firm’s revenue was up 2822.0% on a year-over-year basis. As a group, sell-side analysts expect that Dynavax Technologies will post -2.51 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Dynavax Technologies by 1.4% during the 3rd quarter. BlackRock Inc. now owns 4,123,662 shares of the biopharmaceutical company’s stock worth $51,134,000 after acquiring an additional 56,568 shares in the last quarter. Franklin Resources Inc. grew its position in Dynavax Technologies by 8.3% in the third quarter. Franklin Resources Inc. now owns 3,136,406 shares of the biopharmaceutical company’s stock valued at $38,891,000 after purchasing an additional 239,876 shares in the last quarter. HealthCor Management L.P. grew its position in Dynavax Technologies by 23.3% in the third quarter. HealthCor Management L.P. now owns 3,121,469 shares of the biopharmaceutical company’s stock valued at $38,706,000 after purchasing an additional 590,362 shares in the last quarter. Vanguard Group Inc. grew its position in Dynavax Technologies by 1.0% in the third quarter. Vanguard Group Inc. now owns 2,883,887 shares of the biopharmaceutical company’s stock valued at $35,759,000 after purchasing an additional 29,898 shares in the last quarter. Finally, Senvest Management LLC grew its position in Dynavax Technologies by 7.8% in the third quarter. Senvest Management LLC now owns 2,519,112 shares of the biopharmaceutical company’s stock valued at $31,237,000 after purchasing an additional 183,023 shares in the last quarter. 76.73% of the stock is owned by institutional investors.
About Dynavax Technologies
Dynavax Technologies Corporation, a biopharmaceutical company, focuses on leveraging the power of the body's innate and adaptive immune responses through toll-like receptor (TLR) stimulation. The company's lead product candidates include HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of the virus in adults age 18 years and older; SD-101, a cancer immunotherapy that is in Phase 2 clinical studies; and DV281, an investigational TLR9 agonist for the treatment of non-small cell lung cancer.
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