Goldman Sachs Reinstates Dynavax Technologies (DVAX) at Buy

Goldman Sachs analyst Madhu Kumar reinstates coverage on Dynavax Technologies (NASDAQ: DVAX) with a Buy rating and a price target of $38.00.

The analyst commented, "While we are long-term bullish on the opportunity for hepatitis B virus (HBV) vaccine Heplisav-B to prove best-in-class in that space, with the recent CDC ACIP positive recommendation for universal HBV vaccination likely over time to expand the TAM, we see near-term value creation from the company's multiple COVID-19 vaccine partnerships for its adjuvant CpG 1018. In particular, we would highlight the SCB-2019 program with Clover Biopharma as an under-appreciated COVID-19 vaccine, given its broad capacity for protection and a potential best-in-class tolerability profile, leaving open a substantial opportunity for both ROW pandemic and booster endemic uptake."

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 closed at $13.40 yesterday.

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