Wedbush Assumes Coverage on Dynavax Technologies (DVAX) at Outperform; Optimistic on HEPLISAV
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Price: $15.50 --0%
Rating Summary:
9 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 8
Rating Summary:
9 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 8
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Wedbush assumes coverage on Dynavax Technologies (NASDAQ: DVAX) with a Outperform. PT lowered from $9 to $6.
Wedbush analyst says, "Our thesis centers on the conviction that HEPLISAV, Dynavax’ lead product candidate for Hepatitis B, will report positive Phase III data in May and obtain approval in the US and EU by YE:2012. HEPLISAV benefits from remarkable efficacy in promoting seroconversion among treated patients. Not only does HEPLISAV appear to provide a significant benefit over standard-of-care in stimulating an antibody response to the Hepatitis B virus, but it also does so quicker and with fewer injections. Initially, we expect HEPLISAV to target patients whose antibody responses to current vaccines are often suboptimal (such as patients with chronic kidney disease, HIV/HCV, and also possibly diabetes mellitus). In these indications, we project revenues of $280 million by 2016 and full-year profitability by 2014. Further out, we believe it likely that HEPLISAV will also make inroads into the young and healthy population."
For more ratings news on Dynavax Technologies click here and for the rating history of Dynavax Technologies click here.
Shares of Dynavax Technologies closed at $2.63 yesterday.
Wedbush analyst says, "Our thesis centers on the conviction that HEPLISAV, Dynavax’ lead product candidate for Hepatitis B, will report positive Phase III data in May and obtain approval in the US and EU by YE:2012. HEPLISAV benefits from remarkable efficacy in promoting seroconversion among treated patients. Not only does HEPLISAV appear to provide a significant benefit over standard-of-care in stimulating an antibody response to the Hepatitis B virus, but it also does so quicker and with fewer injections. Initially, we expect HEPLISAV to target patients whose antibody responses to current vaccines are often suboptimal (such as patients with chronic kidney disease, HIV/HCV, and also possibly diabetes mellitus). In these indications, we project revenues of $280 million by 2016 and full-year profitability by 2014. Further out, we believe it likely that HEPLISAV will also make inroads into the young and healthy population."
For more ratings news on Dynavax Technologies click here and for the rating history of Dynavax Technologies click here.
Shares of Dynavax Technologies closed at $2.63 yesterday.
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