At ~$2/Sh Jefferies Sees a Compelling Entry Point in Dynavax (DVAX)

Jefferies cut its price target on Dynavax Technologies (NASDAQ: DVAX) from $6 to $5 after an FDA panel voted against recommending Heplisav. They maintained their Buy rating.

The firm comments, "A FDA panel voted 13-1 on the efficacy data and 5-8 on the safety data for Heplisav, DVAX’s hepatitis B vaccine, in adults 18-70. The mixed safety vote was an unexpected negative, given the benign briefing documents and FDA presentation. We are lowering our PT from $6 to $5, but with the stock indicated at $2, we see DVAX as a risky but compelling buy at current levels as we see the market completely discounting near-term approval."

For an analyst ratings summary and ratings history on Dynavax Technologies click here. For more ratings news on Dynavax Technologies click here.

Shares of Dynavax Technologies are down 50.3% to $2.30 Friday.

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