H.C. Wainwright Reiterates Buy Rating on Dynavax Technologies (DVAX)

H.C. Wainwright analyst Edward White reiterated a Buy rating and $29.00 price target on Dynavax Technologies (NASDAQ: DVAX).

The analyst commented: "Yesterday after the close, Dynavax announced that the first patient has been dosed in its Phase 1/2 study of its shingles vaccine candidate Z-1018. Dynavax is developing the shingles vaccine candidate consisting of glycoprotein E plus CpG 1018 adjuvant for the prevention of shingles in adults aged 50 and older. The company believes this vaccine candidate could potentially have a better safety profile compared to the currently marketed vaccine Shingrix. The company’s randomized, active-controlled, dose escalation, multi-center Phase 1/2 trial is evaluating safety, tolerability, and immunogenicity of Z-1018 compared to Shingrix. The key objectives include selecting the optimal glycoprotein E protein dose level and dosing schedule for further clinical development, and the trial will be used to support validation of a Patient Reported Outcome measurement tool to differentiate its vaccine candidate with regard to tolerability and to support potential label claims. The trial has a targeted total enrollment of approximately 440 healthy adults 50 to 69 years of age at sites in Australia. Topline immunogenicity and safety data from this trial are anticipated in 2H25. Reiterate Buy rating and $29."

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 $11.37 yesterday.

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