Dynavax Technologies (NASDAQ:DVAX) Earns "Market Outperform" Rating from JMP Securities

Key Points

• Dynavax Technologies received a "market outperform" rating and a price target of $32.00 from JMP Securities, indicating a potential upside of 192.24% from its current price.
• The company recently reported an EPS of $0.14, surpassing expectations and demonstrating a healthy revenue of $95.44 million for the quarter.
• Institutional and hedge fund ownership is significant, with 96.96% of shares held by these investors, reflecting confidence in Dynavax's potential.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report)'s stock had its "market outperform" rating restated by equities research analysts at JMP Securities in a research report issued on Friday,Benzinga reports. They presently have a $32.00 target price on the biopharmaceutical company's stock. JMP Securities' target price points to a potential upside of 192.24% from the company's current price.

Separately, Wall Street Zen upgraded Dynavax Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

Dynavax Technologies Stock Performance

Dynavax Technologies stock opened at $10.95 on Friday. The firm has a market capitalization of $1.28 billion, a P/E ratio of -23.80 and a beta of 1.09. The stock has a fifty day moving average price of $10.60 and a 200 day moving average price of $11.43. Dynavax Technologies has a 52 week low of $9.22 and a 52 week high of $14.63. The company has a current ratio of 6.65, a quick ratio of 6.01 and a debt-to-equity ratio of 0.45.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $95.44 million during the quarter, compared to analyst estimates of $87.55 million. Dynavax Technologies had a positive return on equity of 5.10% and a negative net margin of 16.67%. Equities research analysts anticipate that Dynavax Technologies will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Dynavax Technologies

Several hedge funds have recently modified their holdings of the company. Choreo LLC boosted its position in shares of Dynavax Technologies by 3.2% in the first quarter. Choreo LLC now owns 34,828 shares of the biopharmaceutical company's stock worth $452,000 after buying an additional 1,065 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Dynavax Technologies by 96.5% in the fourth quarter. Russell Investments Group Ltd. now owns 2,381 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 1,169 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Dynavax Technologies by 4.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,920 shares of the biopharmaceutical company's stock worth $401,000 after buying an additional 1,453 shares during the period. Parkman Healthcare Partners LLC boosted its position in shares of Dynavax Technologies by 0.7% in the fourth quarter. Parkman Healthcare Partners LLC now owns 220,980 shares of the biopharmaceutical company's stock worth $2,822,000 after buying an additional 1,529 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Dynavax Technologies by 1.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,421 shares of the biopharmaceutical company's stock worth $1,126,000 after buying an additional 1,625 shares during the period. 96.96% of the stock is currently owned by institutional investors and hedge funds.

Dynavax Technologies Company Profile

Dynavax Technologies Corporation, a commercial stage biopharmaceutical company, focuses on developing and commercializing vaccines in the United States. It markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe.

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