Dynavax Technologies Co. (NASDAQ:DVAX) – Investment analysts at Cantor Fitzgerald dropped their FY2018 earnings estimates for shares of Dynavax Technologies in a research note issued to investors on Sunday. Cantor Fitzgerald analyst E. Piros now anticipates that the biopharmaceutical company will post earnings per share of ($1.72) for the year, down from their previous forecast of ($1.65). Cantor Fitzgerald currently has a “Overweight” rating and a $27.00 price target on the stock.
Several other analysts also recently issued reports on the company. Royal Bank of Canada reissued a “buy” rating and issued a $25.00 price target on shares of Dynavax Technologies in a report on Friday, March 9th. Cowen reissued a “buy” rating and issued a $30.00 price target on shares of Dynavax Technologies in a report on Wednesday, February 21st. JPMorgan Chase & Co. downgraded Dynavax Technologies from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $31.00 to $25.00 in a report on Wednesday, February 14th. BidaskClub raised Dynavax Technologies from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Finally, Zacks Investment Research downgraded Dynavax Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Two analysts have 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 presently has a consensus rating of “Hold” and an average target price of $24.67.
Dynavax Technologies (NASDAQ:DVAX) last announced its quarterly earnings results on Thursday, March 8th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.32). The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.53 million. Dynavax Technologies had a negative return on equity of 57.43% and a negative net margin of 29,099.08%.
Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Dynavax Technologies by 474.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,120 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 5,880 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Dynavax Technologies in the 3rd quarter worth $287,000. Fox Run Management L.L.C. bought a new stake in shares of Dynavax Technologies in the 4th quarter worth $257,000. Legal & General Group Plc raised its stake in shares of Dynavax Technologies by 36.1% in the 3rd quarter. Legal & General Group Plc now owns 17,013 shares of the biopharmaceutical company’s stock worth $365,000 after buying an additional 4,512 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Dynavax Technologies in the 4th quarter worth $331,000. 72.52% of the stock is currently owned by hedge funds and other institutional investors.
In other Dynavax Technologies news, insider David F. Novack sold 2,121 shares of Dynavax Technologies stock in a transaction on Friday, March 9th. The stock was sold at an average price of $17.97, for a total transaction of $38,114.37. Following the sale, the insider now owns 77,192 shares of the company’s stock, valued at approximately $1,387,140.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Louis Johnson sold 3,092 shares of Dynavax Technologies stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $18.60, for a total value of $57,511.20. Following the sale, the vice president now directly owns 7,780 shares in the company, valued at approximately $144,708. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.
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Dynavax Technologies Company Profile
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.
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