Zacks Investment Research upgraded shares of Dynavax Technologies (NASDAQ:DVAX) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $4.25 price objective on the biopharmaceutical company’s stock.
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 analysts have also commented on the company. William Blair reaffirmed a buy rating on shares of Dynavax Technologies in a research note on Friday, June 21st. Royal Bank of Canada reaffirmed a buy rating on shares of PrairieSky Royalty in a research note on Friday, May 24th. ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Cantor Fitzgerald raised Dynavax Technologies from a neutral rating to an overweight rating and set a $20.00 price target on the stock in a research note on Wednesday. Finally, BidaskClub raised Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Dynavax Technologies has a consensus rating of Buy and an average target price of $16.81.
DVAX opened at $4.03 on Wednesday. The company has a current ratio of 5.27, a quick ratio of 4.61 and a debt-to-equity ratio of 4.88. Dynavax Technologies has a 52 week low of $3.57 and a 52 week high of $16.15. The firm’s fifty day moving average is $4.25.
Dynavax Technologies (NASDAQ:DVAX) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.05. The business had revenue of $5.77 million for the quarter, compared to analyst estimates of $5.95 million. Dynavax Technologies had a negative return on equity of 190.84% and a negative net margin of 1,156.11%. The business’s revenue for the quarter was up 3294.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.63) earnings per share. Equities analysts predict that Dynavax Technologies will post -2.13 earnings per share for the current fiscal year.
In other Dynavax Technologies news, SVP Robert Coffman sold 32,218 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.58, for a total value of $147,558.44. Following the sale, the senior vice president now directly owns 132,470 shares of the company’s stock, valued at approximately $606,712.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.90% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. Wall Street Access Asset Management LLC lifted its stake in shares of Dynavax Technologies by 7.0% in the 4th quarter. Wall Street Access Asset Management LLC now owns 15,300 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 1,000 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Dynavax Technologies by 18.7% in the 4th quarter. Legal & General Group Plc now owns 11,814 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 1,860 shares in the last quarter. Creative Planning lifted its stake in shares of Dynavax Technologies by 0.9% in the 1st quarter. Creative Planning now owns 235,832 shares of the biopharmaceutical company’s stock valued at $1,724,000 after purchasing an additional 2,052 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of Dynavax Technologies by 16.6% in the 4th quarter. Squarepoint Ops LLC now owns 20,939 shares of the biopharmaceutical company’s stock valued at $192,000 after purchasing an additional 2,982 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Dynavax Technologies by 2.5% in the 4th quarter. Bank of America Corp DE now owns 130,311 shares of the biopharmaceutical company’s stock valued at $1,192,000 after purchasing an additional 3,214 shares in the last quarter. 81.94% of the stock is currently owned by hedge funds and other institutional investors.
Dynavax Technologies Company Profile
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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