Cowen and Company Reiterates “Outperform” Rating for Dynavax Technologies Corporation (NASDAQ:DVAX)

Cowen and Company reaffirmed their outperform rating on shares of Dynavax Technologies Corporation (NASDAQ:DVAX) in a report published on Thursday, July 27th. The firm currently has a $45.00 price target on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on DVAX. Zacks Investment Research upgraded shares of Dynavax Technologies Corporation from a hold rating to a buy rating and set a $11.00 target price for the company in a report on Monday, July 10th. Royal Bank Of Canada boosted their target price on shares of Dynavax Technologies Corporation from $6.00 to $7.00 and gave the company a sector perform rating in a report on Tuesday, May 9th. ValuEngine downgraded shares of Dynavax Technologies Corporation from a sell rating to a strong sell rating in a research note on Friday, June 2nd. Finally, William Blair reiterated an outperform rating on shares of Dynavax Technologies Corporation in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Dynavax Technologies Corporation has an average rating of Hold and an average price target of $23.34.

Shares of Dynavax Technologies Corporation (NASDAQ:DVAX) traded down 2.280% during mid-day trading on Thursday, reaching $16.075. The company’s stock had a trading volume of 688,455 shares. Dynavax Technologies Corporation has a one year low of $3.20 and a one year high of $19.60. The firm’s 50 day moving average is $11.90 and its 200 day moving average is $7.26. The firm’s market cap is $880.06 million.

Dynavax Technologies Corporation (NASDAQ:DVAX) last posted its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.09. The business had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.15 million. Dynavax Technologies Corporation had a negative net margin of 1,323.99% and a negative return on equity of 92.09%. During the same quarter in the previous year, the business posted ($0.75) earnings per share. On average, equities analysts anticipate that Dynavax Technologies Corporation will post ($1.58) earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of DVAX. Cubist Systematic Strategies LLC boosted its stake in shares of Dynavax Technologies Corporation by 54.5% in the second quarter. Cubist Systematic Strategies LLC now owns 10,493 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 3,700 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in Dynavax Technologies Corporation by 16.5% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,000 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 1,700 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Dynavax Technologies Corporation during the first quarter valued at approximately $121,000. Bank of America Corp DE raised its position in Dynavax Technologies Corporation by 2.3% in the first quarter. Bank of America Corp DE now owns 20,356 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 456 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Dynavax Technologies Corporation by 18.5% in the second quarter. Legal & General Group Plc now owns 12,501 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 1,950 shares in the last quarter. 57.49% of the stock is currently owned by institutional investors.

About Dynavax Technologies Corporation

Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body’s innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.