Zacks: Brokerages Anticipate Dynavax Technologies Co. (DVAX) Will Post Quarterly Sales of $37.77 Million
Equities analysts expect that Dynavax Technologies Co. (NASDAQ:DVAX) will announce sales of $37.77 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Dynavax Technologies’ earnings. The lowest sales estimate is $530,000.00 and the highest is $75.00 million. Dynavax Technologies posted sales of $7.29 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 418.1%. The firm is expected to issue its next quarterly earnings results on Monday, March 12th.
According to Zacks, analysts expect that Dynavax Technologies will report full year sales of $37.77 million for the current fiscal year, with estimates ranging from $1.31 million to $75.31 million. For the next fiscal year, analysts anticipate that the company will report sales of $45.40 million per share, with estimates ranging from $39.78 million to $51.01 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Dynavax Technologies.
Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly earnings data on Friday, November 3rd. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.15. The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.28 million. Dynavax Technologies had a negative net margin of 1,177.60% and a negative return on equity of 65.97%. The company’s revenue was down 68.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.90) EPS.
A number of equities analysts have recently commented on DVAX shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $26.00 target price on shares of Dynavax Technologies in a report on Friday, September 1st. ValuEngine raised shares of Dynavax Technologies from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. Cantor Fitzgerald started coverage on shares of Dynavax Technologies in a report on Friday, September 15th. They issued an “overweight” rating and a $24.00 target price on the stock. Cowen reaffirmed a “buy” rating and issued a $30.00 target price on shares of Dynavax Technologies in a report on Friday, November 3rd. Finally, BidaskClub cut shares of Dynavax Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.17.
Shares of Dynavax Technologies (DVAX) traded up $0.50 during trading on Friday, hitting $18.80. 1,153,773 shares of the stock were exchanged, compared to its average volume of 1,910,000. The firm has a market cap of $1,170.00, a PE ratio of -9.59 and a beta of 1.31. Dynavax Technologies has a fifty-two week low of $3.70 and a fifty-two week high of $24.45.
In other Dynavax Technologies news, insider Robert Coffman sold 7,500 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $18.90, for a total value of $141,750.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC increased its stake in Dynavax Technologies by 54.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,493 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 3,700 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in Dynavax Technologies by 16.5% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 12,000 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 1,700 shares during the period. Bank of America Corp DE increased its stake in Dynavax Technologies by 2.3% in the 1st quarter. Bank of America Corp DE now owns 20,356 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 456 shares during the period. Legal & General Group Plc increased its stake in Dynavax Technologies by 18.5% in the 2nd quarter. Legal & General Group Plc now owns 12,501 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 1,950 shares during the period. Finally, Wall Street Access Asset Management LLC acquired a new position in Dynavax Technologies in the 2nd quarter valued at $124,000. 70.54% of the stock is currently owned by 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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