Dynavax (DVAX) Price Target Adjusted to $60 at Cowen

Cowen analyst Phil Nadeau reiterated an Outperform rating and boosted his price target on Dynavax Technologies (NASDAQ: DVAX) to $60.00 (from $6.00) to adjust for the recent 10:1 reverse stock split following the company's R&D day yesterday.

Nadeau said, "R&D day provided a brief update on Heplisav, but focused mostly on DVAX's efforts to develop TLR-based therapies in immuno-oncology, autoimmune disorders, and novel adjuvants. We continue to think that DVAX is dramatically
undervalued based on Heplisav's potential alone. Today we are increasing our PT from $6 to $60 to reflect DVAX's recent 10:1 reverse stock split."

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 $15.20 yesterday.

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