Dynavax Technologies (NASDAQ:DVAX) Upgraded by Cantor Fitzgerald to Overweight

Cantor Fitzgerald upgraded shares of Dynavax Technologies (NASDAQ:DVAX) from a neutral rating to an overweight rating in a research note released on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has $20.00 price objective on the biopharmaceutical company’s stock.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Gerdau from a sell rating to a hold rating in a research report on Monday, May 13th. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. Royal Bank of Canada reaffirmed a buy rating on shares of PrairieSky Royalty in a research report on Friday, May 24th. William Blair reaffirmed a buy rating on shares of Dynavax Technologies in a research report on Friday, June 21st. Finally, BidaskClub raised shares of Xilinx from a hold rating to a buy rating in a research report on Saturday, June 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Dynavax Technologies presently has a consensus rating of Buy and a consensus price target of $16.81.

Shares of 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. The firm’s fifty day moving average price is $4.25. Dynavax Technologies has a 12 month low of $3.57 and a 12 month high of $16.15.

Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.67) by $0.05. The business had revenue of $5.77 million for the quarter, compared to analysts’ expectations of $5.95 million. Dynavax Technologies had a negative net margin of 1,156.11% and a negative return on equity of 190.84%. The business’s quarterly revenue was up 3294.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.63) earnings per share. As a group, sell-side analysts predict that Dynavax Technologies will post -2.13 EPS for the current year.

In other news, SVP Robert Coffman sold 32,218 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $4.58, for a total transaction of $147,558.44. Following the transaction, the senior vice president now owns 132,470 shares in the company, valued at $606,712.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wall Street Access Asset Management LLC raised its holdings in shares of Dynavax Technologies by 7.0% during the fourth 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 during the period. Legal & General Group Plc raised its holdings in shares of Dynavax Technologies by 18.7% during the fourth 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 during the period. Creative Planning raised its holdings in shares of Dynavax Technologies by 0.9% during the first 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 during the period. Squarepoint Ops LLC raised its holdings in shares of Dynavax Technologies by 16.6% during the fourth 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 during the period. Finally, Bank of America Corp DE raised its holdings in shares of Dynavax Technologies by 2.5% during the fourth 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 during the period. Hedge funds and other institutional investors own 81.94% of the company’s stock.

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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