Dynavax Technologies (NASDAQ:DVAX) Given New $32.00 Price Target at JMP Securities

Key Points

• JMP Securities has increased the price target for Dynavax Technologies from $31.00 to $32.00, indicating a potential upside of 216.96% from its previous close.
• Despite the price increase from JMP Securities, Dynavax Technologies holds a consensus rating of "Hold" among analysts, with one "sell," one "hold," and three "buy" ratings.
• The biopharmaceutical company reported $0.14 earnings per share for the last quarter, exceeding estimates and generating revenue of $95.44 million, surpassing analyst expectations of $87.55 million.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) had its target price hoisted by stock analysts at JMP Securities from $31.00 to $32.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "market outperform" rating on the biopharmaceutical company's stock. JMP Securities' target price points to a potential upside of 216.96% from the stock's previous close.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Dynavax Technologies from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group cut their price objective on Dynavax Technologies from $12.00 to $10.00 and set a "sell" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Dynavax Technologies has a consensus rating of "Hold" and an average target price of $24.33.

Dynavax Technologies Stock Performance

Shares of DVAX stock traded down $0.96 during trading on Friday, hitting $10.10. The company's stock had a trading volume of 2,474,704 shares, compared to its average volume of 2,095,623. The company has a market cap of $1.21 billion, a PE ratio of -19.52 and a beta of 1.09. The company has a current ratio of 11.93, a quick ratio of 10.84 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $10.49 and a 200-day moving average of $11.58. Dynavax Technologies has a 52 week low of $9.22 and a 52 week high of $14.63.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Dynavax Technologies had a positive return on equity of 3.59% and a negative net margin of 20.39%. The business had revenue of $95.44 million during the quarter, compared to analyst estimates of $87.55 million. As a group, research analysts anticipate that Dynavax Technologies will post 0.32 earnings per share for the current year.

Institutional Investors Weigh In On Dynavax Technologies

Several large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in Dynavax Technologies by 96.5% in the 4th quarter. Russell Investments Group Ltd. now owns 2,381 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 1,169 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Dynavax Technologies in the 1st quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd increased its stake in Dynavax Technologies by 5,485.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,346 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 2,304 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Dynavax Technologies in the 4th quarter valued at about $35,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Dynavax Technologies by 88.4% in the 1st quarter. GAMMA Investing LLC now owns 7,729 shares of the biopharmaceutical company's stock valued at $100,000 after acquiring an additional 3,627 shares during the last quarter. 96.96% of the stock is owned by institutional investors.

About Dynavax Technologies

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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