Dynavax Technologies (NASDAQ:DVAX) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Dynavax Technologies (NASDAQ:DVAX) from a sell rating to a hold rating in a research note published on Monday, Zacks.com reports.

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 several other reports. HC Wainwright reissued a buy rating on shares of Dynavax Technologies in a research report on Thursday, November 7th. William Blair reissued a buy rating on shares of Dynavax Technologies in a research report on Friday, January 3rd. ValuEngine raised Dynavax Technologies from a hold rating to a buy rating in a research report on Friday, January 3rd. Finally, BidaskClub raised Dynavax Technologies from a hold rating to a buy rating in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $12.63.

Shares of DVAX stock traded up $0.21 on Monday, hitting $5.94. 18,764 shares of the stock were exchanged, compared to its average volume of 1,232,227. The company has a current ratio of 4.94, a quick ratio of 4.09 and a debt-to-equity ratio of 5.48. The firm has a market capitalization of $480.52 million, a P/E ratio of -2.32 and a beta of 0.59. The business has a 50-day moving average of $6.08 and a 200 day moving average of $4.69. Dynavax Technologies has a fifty-two week low of $2.60 and a fifty-two week high of $12.42.

Dynavax Technologies (NASDAQ:DVAX) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.10). The firm had revenue of $10.58 million for the quarter, compared to analyst estimates of $10.31 million. Dynavax Technologies had a negative return on equity of 399.60% and a negative net margin of 519.95%. The firm’s quarterly revenue was up 624.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.65) earnings per share. As a group, research analysts forecast that Dynavax Technologies will post -2.04 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in DVAX. Marshall Wace LLP raised its stake in Dynavax Technologies by 225.0% in the 1st quarter. Marshall Wace LLP now owns 16,449 shares of the biopharmaceutical company’s stock valued at $120,000 after acquiring an additional 11,387 shares during the period. Bank of Montreal Can lifted its position in Dynavax Technologies by 148.4% during the second quarter. Bank of Montreal Can now owns 7,440 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 4,445 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Dynavax Technologies by 29.5% during the second quarter. M&T Bank Corp now owns 13,685 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 3,116 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Dynavax Technologies during the second quarter worth approximately $747,000. Finally, AXA acquired a new position in shares of Dynavax Technologies in the second quarter valued at approximately $1,199,000. Institutional investors own 82.40% of the company’s stock.

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 markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older.

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