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