Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Dynavax (NASDAQ: DVAX) today and set a price target of $30. The company’s shares opened today at $12.90, close to its 52-week low of $12.70.
Piros commented:
“: We are reiterating our Overweight rating and raising our 12- month PT to $30/share from $27/share, following 2Q18 financial results. Dynavax held a conference call to discuss financial and corporate updates. We believe there are a number of opportunities in the near future for Dynavax that could lead to upside for the company, including future HEPLISAV-B vaccine sales and a Phase 3 trial initiation on the horizon for SD-101 in advanced melanoma.”
According to TipRanks.com, Piros has 0 stars on 0-5 star ranking scale with an average return of -8.2% and a 37.6% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Dynavax has an analyst consensus of Strong Buy, with a price target consensus of $27.75.
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Based on Dynavax’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $38.96 million. In comparison, last year the company had a GAAP net loss of $20.32 million.
Based on the recent corporate insider activity of 31 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.
