TD Cowen analyst Phil Nadeau has maintained their bullish stance on DVAX stock, giving a Buy rating today.
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Phil Nadeau has given his Buy rating due to a combination of factors that highlight Dynavax’s promising market position and strategic initiatives. The company’s Heplisav vaccine has shown robust performance with Q3 sales aligning with expectations and a notable increase in market share, reaching 46% in the U.S. HBV market. This growth is supported by increased demand from retail pharmacies, where Heplisav holds a 63% share.
Additionally, Dynavax’s strategic move to license an option on Vaxart’s oral COVID-19 vaccine candidate indicates potential future growth opportunities. The agreement involves a significant upfront investment, with the possibility of further development contingent on favorable Phase IIb results. This strategic initiative, combined with Heplisav’s performance, suggests that Dynavax is undervalued, supporting the Buy rating with a price target of $25.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is neutral on the stock.