Cowen Maintains Outperform On Dynavax Following R&D Day
Cowen analyst Phil Nadeau maintained an Outperform rating on Dynavax Technologies (NASDAQ:DVAX) and raised his price target to $60 (from $6) to reflect the recent 10:1 reverse stock split.
Nadeau wrote, “This morning’s R&D day provided a brief update on Heplisav, but focused mostly on DVAX’s efforts to develop TLR-based therapies in immuno-oncology, autoimmune disorders, and novel adjuvants. We continue to think that DVAX is dramatically undervalued based on Heplisav’s potential alone.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Phil Nadeau has a total average return of 11.8% and a 66.7% success rate. Nadeau has a 18.4% average return when recommending DVAX, and is ranked #488 out of 3408 analysts.