Dynavax Technologies Corporation (NASDAQ:DVAX) Receives $24.33 Average Target Price from Brokerages

Shares of Dynavax Technologies Corporation (NASDAQ:DVAX) have been assigned an average rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.3333.

Several analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Dynavax Technologies in a report on Wednesday, October 8th. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 target price on shares of Dynavax Technologies in a research report on Friday, August 22nd.

Dynavax Technologies Stock Down 0.1%

NASDAQ:DVAX opened at $10.86 on Wednesday. The company’s 50-day simple moving average is $10.72 and its 200-day simple moving average is $10.45. The company has a debt-to-equity ratio of 0.41, a quick ratio of 6.94 and a current ratio of 7.62. Dynavax Technologies has a fifty-two week low of $9.20 and a fifty-two week high of $14.63. The stock has a market capitalization of $1.28 billion, a P/E ratio of -29.35 and a beta of 0.89.

Dynavax Technologies (NASDAQ:DVAX) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. The firm had revenue of $94.88 million during the quarter, compared to analyst estimates of $94.00 million. Dynavax Technologies had a negative net margin of 13.13% and a positive return on equity of 7.18%. On average, equities analysts anticipate that Dynavax Technologies will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dynavax Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blair William & Co. IL grew its position in Dynavax Technologies by 0.3% during the 2nd quarter. Blair William & Co. IL now owns 2,279,647 shares of the biopharmaceutical company’s stock worth $22,614,000 after purchasing an additional 6,940 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Dynavax Technologies by 33.8% during the first quarter. Invesco Ltd. now owns 2,207,631 shares of the biopharmaceutical company’s stock worth $28,633,000 after buying an additional 558,046 shares during the period. Marshall Wace LLP lifted its stake in shares of Dynavax Technologies by 12.2% during the third quarter. Marshall Wace LLP now owns 2,036,003 shares of the biopharmaceutical company’s stock worth $20,218,000 after buying an additional 221,069 shares during the period. Bank of America Corp DE grew its holdings in shares of Dynavax Technologies by 25.7% during the third quarter. Bank of America Corp DE now owns 1,458,087 shares of the biopharmaceutical company’s stock valued at $14,479,000 after buying an additional 298,106 shares during the last quarter. Finally, Glenmede Investment Management LP increased its position in shares of Dynavax Technologies by 23.8% in the 3rd quarter. Glenmede Investment Management LP now owns 1,264,369 shares of the biopharmaceutical company’s stock valued at $12,555,000 after acquiring an additional 243,240 shares during the period. 96.96% of the stock is owned by hedge funds and other institutional investors.

Dynavax Technologies Company Profile

Dynavax Technologies Corporation is a biopharmaceutical company focused on the development and commercialization of novel vaccines and immunotherapies. Headquartered in Emeryville, California, the company specializes in leveraging its proprietary Toll-like receptor (TLR) agonist platform to enhance immune responses. Its lead product, HEPLISAV-B, is a two-dose hepatitis B vaccine approved by the U.S. Food and Drug Administration that incorporates the CpG 1018 adjuvant to stimulate a rapid and robust antibody response in adults.

Founded in 1993, Dynavax has built a pipeline that extends beyond hepatitis B to include candidates targeting seasonal influenza, respiratory syncytial virus (RSV) and emerging infectious diseases.