Dynavax Technologies (DVAX) PT Raised to $30 at Cowen

November 5, 2021 6:45 AM EDT
Get Alerts DVAX Hot Sheet
Price: $10.30 -2.09%

Rating Summary:
    11 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 11 | New: 34
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Cowen analyst Phil Nadeau raised the price target on Dynavax Technologies (NASDAQ: DVAX) to $30.00 (from $20.00) while maintaining an Outperform rating.

The analyst commented, "DVAX reported Q3 Heplisav rev. of $22.7MM, above consensus ($15MM) as share at targeted accounts increased to 33.5%, up 1050 b.p. Y/Y. The ACIP voted in favor of universal HBV vaccination for all adults, likely to grow the HBV market. DVAX raised guidance for 2021 CpG 1018 sales to $375MM-$425MM due to the success of partnered programs. We have increased our DCF-based P.T. from $20 to $30."

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