Cantor Fitzgerald Thinks Dynavax’s Stock is Going to Recover


In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Dynavax (DVAX), with a price target of $32. The company’s shares opened today at $11.12, close to its 52-week low of $9.63.

Piros commented:

“. We are reiterating our Overweight rating and 12-month price target of $32/share, following 3Q18 financial results. Dynavax held a conference call to discuss financial and corporate updates. The company provided updates on the HEPLISAV-B launch, which showed moderate revenue growth in the summer, with a strong comeback in September and October. The company is gearing for Phase 3 development of SD-101 in melanoma. We continue to believe that Merck (MRK – Not Covered) could be a potential partner for this program, as highlighted in our ESMO takeaway note.”

According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -7.4% and a 38.8% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.

Currently, the analyst consensus on Dynavax is a Strong Buy with an average price target of $28.75, representing a 158.5% upside. In a report issued on October 21, Cowen & Co. also maintained a Buy rating on the stock with a $30 price target.

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Based on Dynavax’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $39.44 million. In comparison, last year the company had a GAAP net loss of $22.13 million.

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Dynavax Technologies Corp. is a biopharmaceutical company, which engages in the development and discovery of novel vaccines and immuno-oncology therapeutics. It focuses on leveraging the body’s innate and adaptive immune responses through toll-like receptor stimulation. It offers products for vaccines, cancer immunotherapy, and immune-mediated diseases.

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