In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Dynavax (DVAX), with a price target of $28. The company’s shares opened today at $6.53, close to its 52-week low of $6.22.
Piros said:
“. We are reiterating our Overweight rating and 12-month price target of $28/share on DVAX following 1Q19 earnings. Dynavax reported 1Q19 HEPLISAV-B revenue of $5.6 million, which beat FactSet consensus of $5.0 million and missed our estimate of $6.9 million. Despite the miss, we believe QoQ growth for the rest of 2019 is achievable, and we are lowering our 2019 revenue estimates slightly. We pivot our near-term focus on mid-2019 oncology catalysts (ASCO presentations, program decision announcements), which could represent the next opportunity for Dynavax.”
According to TipRanks.com, Piros is a 1-star analyst with an average return of -1.0% and a 46.0% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Dynavax with a $27 average price target.
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Based on Dynavax’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $39.97 million. In comparison, last year the company had a GAAP net loss of $38.96 million.
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock.
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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.
