Dynavax stock holds steady as Citizens JMP reiterates Market Outperform rating

Investing.com - Citizens JMP has reiterated its Market Outperform rating and $32.00 price target on Dynavax Technologies (NASDAQ:DVAX), representing nearly 200% upside from the current price of $10.95. According to InvestingPro data, the company maintains a strong financial health score of GOOD, with liquid assets exceeding short-term obligations.

The research firm expressed encouragement regarding the tolerability results and CD4+ T-cell responses for Z-1018, a product in Dynavax’s development pipeline.

Citizens JMP drew comparisons to Shingrix, which has approximately 90% efficacy in preventing shingles attacks, noting that Z-1018’s activated CD4 levels fall within a potentially effective range.

The firm referenced data from a 2017 Shingrix VRBPAC meeting showing that two doses drove significantly higher CD4 levels compared to a single dose, regardless of antigen dosage.

Despite these positive indicators, Citizens JMP acknowledged limitations in the current data, noting a lack of robust correlation between CD4 levels and efficacy, with sample sizes too small to draw conclusive findings on one versus two doses.

In other recent news, Dynavax Technologies announced positive topline results from its Phase 1/2 clinical trial for its shingles vaccine candidate, Z-1018. The trial demonstrated that Z-1018 achieved comparable immune responses to GlaxoSmithKline (NYSE:GSK)’s Shingrix, the current market-leading shingles vaccine, while showing a significantly better tolerability profile. At the selected dose formulation, Z-1018 achieved a 100% humoral vaccine response rate compared to 96.9% for Shingrix. Despite these promising results, Goldman Sachs reiterated its Sell rating on Dynavax, maintaining an $11.00 price target, citing the trial’s topline results. In contrast, TD Cowen maintained its Buy rating with a $25.00 price target, highlighting the positive data and lower post-injection adverse events. The company’s Z-1018 vaccine showed superior tolerability to Shingrix while maintaining non-inferiority on efficacy measures. These developments have caught the attention of investors, given the competitive landscape in the shingles vaccine market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.