William Blair Comments on Dynavax Technologies Co.’s FY2017 Earnings (DVAX)

Dynavax Technologies Co. (NASDAQ:DVAX) – Investment analysts at William Blair upped their FY2017 earnings per share (EPS) estimates for shares of Dynavax Technologies in a note issued to investors on Monday. William Blair analyst Y. Xu now expects that the biopharmaceutical company will earn ($1.70) per share for the year, up from their prior estimate of ($1.71). William Blair also issued estimates for Dynavax Technologies’ Q1 2018 earnings at ($0.43) EPS, Q2 2018 earnings at ($0.41) EPS, Q3 2018 earnings at ($0.38) EPS, Q4 2018 earnings at ($0.29) EPS and FY2018 earnings at ($1.50) EPS.

Dynavax Technologies (NASDAQ:DVAX) last announced its earnings results on Friday, November 3rd. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.53) by $0.15. Dynavax Technologies had a negative return on equity of 65.97% and a negative net margin of 1,177.60%. The company had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the company posted ($0.90) EPS. Dynavax Technologies’s quarterly revenue was down 68.8% on a year-over-year basis.

Several other research firms have also issued reports on DVAX. Royal Bank of Canada reissued an “outperform” rating and set a $28.00 price target (up from $26.00) on shares of Dynavax Technologies in a research report on Monday, September 25th. Cowen reissued a “buy” rating and set a $30.00 price target on shares of Dynavax Technologies in a research report on Friday, November 3rd. BidaskClub lowered Dynavax Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. ValuEngine lowered Dynavax Technologies from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Cantor Fitzgerald upped their price target on Dynavax Technologies from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $25.17.

Dynavax Technologies (NASDAQ:DVAX) opened at $17.55 on Wednesday. Dynavax Technologies has a 52-week low of $3.70 and a 52-week high of $24.45. The stock has a market capitalization of $1,060.00, a P/E ratio of -8.95 and a beta of 1.31.

In other Dynavax Technologies news, insider Robert Coffman sold 7,500 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $18.90, for a total value of $141,750.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP David Louis Johnson sold 3,092 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $18.60, for a total value of $57,511.20. Following the completion of the sale, the vice president now directly owns 7,780 shares in the company, valued at $144,708. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of DVAX. Cubist Systematic Strategies LLC increased its position in Dynavax Technologies by 54.5% in the second quarter. Cubist Systematic Strategies LLC now owns 10,493 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 3,700 shares during the period. Legal & General Group Plc increased its position in Dynavax Technologies by 18.5% in the second quarter. Legal & General Group Plc now owns 12,501 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 1,950 shares during the period. Wall Street Access Asset Management LLC acquired a new stake in Dynavax Technologies in the second quarter worth $124,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Dynavax Technologies by 474.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,120 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 5,880 shares during the period. Finally, Family Management Corp increased its position in Dynavax Technologies by 72.7% in the second quarter. Family Management Corp now owns 19,000 shares of the biopharmaceutical company’s stock worth $183,000 after buying an additional 8,000 shares during the period. 70.54% of the stock is currently owned by hedge funds and other institutional investors.

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About Dynavax Technologies

Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body’s innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.

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