Dynavax Technologies (NASDAQ:DVAX) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Dynavax Technologies (NASDAQ:DVAX) from a sell rating to a hold rating in a report released on Thursday morning, BidAskClub reports.

A number of other equities analysts also recently weighed in on DVAX. Royal Bank of Canada dropped their target price on Dynavax Technologies to $13.00 and set an outperform rating on the stock in a report on Friday, May 24th. ValuEngine upgraded Dynavax Technologies from a sell rating to a hold rating in a report on Thursday, August 1st. Cantor Fitzgerald upgraded Dynavax Technologies from a neutral rating to an overweight rating and set a $20.00 target price on the stock in a report on Wednesday, July 10th. William Blair reiterated a buy rating on shares of Dynavax Technologies in a report on Friday, August 16th. Finally, Zacks Investment Research upgraded Dynavax Technologies from a hold rating to a buy rating and set a $4.50 target price on the stock in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $16.88.

DVAX stock opened at $4.32 on Thursday. The firm has a market capitalization of $289.94 million, a PE ratio of -1.69 and a beta of 0.63. Dynavax Technologies has a one year low of $2.60 and a one year high of $14.35. 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 firm has a 50-day moving average of $3.51 and a two-hundred day moving average of $6.13.

Dynavax Technologies (NASDAQ:DVAX) last issued its earnings results on Wednesday, August 7th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.03). The business had revenue of $8.30 million during the quarter, compared to analyst estimates of $8.24 million. Dynavax Technologies had a negative net margin of 781.10% and a negative return on equity of 304.71%. Dynavax Technologies’s revenue for the quarter was up 564.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.63) EPS. On average, equities research analysts anticipate that Dynavax Technologies will post -1.99 earnings per share for the current year.

In other news, Director Francis Cano acquired 16,667 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $3.00 per share, for a total transaction of $50,001.00. Following the completion of the acquisition, the director now owns 118,484 shares of the company’s stock, valued at approximately $355,452. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Coffman sold 32,218 shares of the 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 in the company, valued at approximately $606,712.60. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in DVAX. Rhenman & Partners Asset Management AB increased its holdings in Dynavax Technologies by 333.1% in the second quarter. Rhenman & Partners Asset Management AB now owns 1,234,335 shares of the biopharmaceutical company’s stock worth $4,925,000 after buying an additional 949,335 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in Dynavax Technologies by 103.2% in the second quarter. UBS Asset Management Americas Inc. now owns 1,741,907 shares of the biopharmaceutical company’s stock worth $6,950,000 after buying an additional 884,854 shares during the last quarter. Senvest Management LLC increased its holdings in Dynavax Technologies by 20.1% in the second quarter. Senvest Management LLC now owns 3,949,052 shares of the biopharmaceutical company’s stock worth $15,757,000 after buying an additional 660,526 shares during the last quarter. Orbimed Advisors LLC acquired a new position in Dynavax Technologies in the second quarter worth approximately $2,328,000. Finally, Point72 Asset Management L.P. acquired a new position in Dynavax Technologies in the second quarter worth approximately $2,214,000. Hedge funds and other institutional investors own 82.41% 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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