Dynavax Technologies (NASDAQ:DVAX) Upgraded to Buy by Zacks Investment Research

Dynavax Technologies (NASDAQ:DVAX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The firm presently has a $4.50 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.78% from the stock’s previous close.

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. “

Several other research analysts also recently commented on DVAX. BidaskClub raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, June 29th. ValuEngine raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Cantor Fitzgerald raised Dynavax Technologies from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Wednesday, July 10th. William Blair reaffirmed a “buy” rating on shares of Dynavax Technologies in a research note on Friday. Finally, Cowen reaffirmed a “buy” rating on shares of Dynavax Technologies in a research note on Monday, June 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.88.



NASDAQ DVAX traded up $0.08 during trading on Friday, hitting $3.99. 1,310,635 shares of the company’s stock were exchanged, compared to its average volume of 1,331,895. The company has a current ratio of 4.30, a quick ratio of 3.47 and a debt-to-equity ratio of 19.95. The company has a market cap of $228.69 million, a PE ratio of -1.56 and a beta of 0.63. Dynavax Technologies has a fifty-two week low of $2.60 and a fifty-two week high of $14.35. The stock’s 50 day moving average price is $3.49 and its two-hundred day moving average price is $6.30.

Dynavax Technologies (NASDAQ:DVAX) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.03). The business had revenue of $8.30 million for the quarter, compared to analyst estimates of $8.24 million. Dynavax Technologies had a negative return on equity of 304.71% and a negative net margin of 781.10%. The firm’s revenue was up 564.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.63) EPS. Analysts forecast that Dynavax Technologies will post -2.07 earnings per share for the current fiscal year.

In other news, SVP Robert Coffman sold 32,218 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $4.58, for a total value of $147,558.44. Following the completion of the transaction, the senior vice president now owns 132,470 shares of the company’s stock, valued at $606,712.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis Cano acquired 16,667 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $3.00 per share, with a total value of $50,001.00. Following the purchase, the director now directly owns 118,484 shares of the company’s stock, valued at $355,452. The disclosure for this purchase can be found here. Corporate insiders own 4.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new stake in Dynavax Technologies during the 1st quarter valued at approximately $1,468,000. Chicago Capital LLC increased its position in Dynavax Technologies by 18.8% during the 1st quarter. Chicago Capital LLC now owns 2,544,142 shares of the biopharmaceutical company’s stock valued at $18,598,000 after purchasing an additional 402,411 shares during the period. Clearbridge Investments LLC increased its position in Dynavax Technologies by 3.4% during the 1st quarter. Clearbridge Investments LLC now owns 1,161,338 shares of the biopharmaceutical company’s stock valued at $8,489,000 after purchasing an additional 38,400 shares during the period. BNP Paribas Arbitrage SA increased its position in Dynavax Technologies by 56,326.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 12,978 shares of the biopharmaceutical company’s stock valued at $95,000 after purchasing an additional 12,955 shares during the period. Finally, Bailard Inc. increased its position in Dynavax Technologies by 52.8% during the 1st quarter. Bailard Inc. now owns 149,000 shares of the biopharmaceutical company’s stock valued at $1,089,000 after purchasing an additional 51,500 shares during the period. 83.48% of the stock is owned by institutional investors and hedge funds.

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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