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On Friday, H.C. Wainwright analyst Edward White confirmed a Buy rating on Dynavax Technologies (NASDAQ:DVAX) with a steady price target of $31.00. White’s commentary followed Dynavax’s fourth-quarter earnings release, which showed revenues of $72.0 million and diluted earnings per share (EPS) of $0.05. These figures slightly surpassed the firm’s revenue estimate of $71.8 million and met the EPS forecast of $0.04, while consensus estimates stood at $72.7 million for revenue and $0.04 for EPS. According to InvestingPro data, Dynavax has maintained profitability over the last twelve months, with impressive revenue growth of 19.36% and a strong financial health score rated as "GOOD."
Dynavax’s research and development (R&D) expenses saw an increase in the fourth quarter of 2024, reaching $18.7 million, up from $14.1 million in the same period the previous year. Selling, general, and administrative (SG&A) expenses were also slightly higher at $41.6 million, compared to $41.3 million in the fourth quarter of 2023. Despite these increases, H.C. Wainwright is maintaining its full-year 2025 diluted EPS estimate of $0.35 for the company.
As of December 31, 2024, Dynavax reported a strong financial position with $713.8 million in cash, cash equivalents, and marketable securities. The company had previously announced a $200 million share repurchase program on October 29, 2024. Following up on this initiative, Dynavax disclosed a $100 million accelerated share repurchase transaction on November 11, 2024. This transaction forms part of the larger $200 million repurchase program, which Dynavax aims to complete by the end of 2025. InvestingPro analysis reveals the company’s exceptional liquidity position with a current ratio of 10.8, indicating strong ability to meet short-term obligations. Additionally, the company holds more cash than debt on its balance sheet, providing significant financial flexibility.
White’s reiteration of the Buy rating and the $31 price target reflects the company’s financial results and ongoing share repurchase efforts. The analyst’s outlook remains unchanged following the reported financial performance and the strategic moves by Dynavax to enhance shareholder value. Trading near its 52-week high of $13.89, InvestingPro analysis suggests the stock is currently overvalued, with a P/E ratio of 84.49. Investors seeking deeper insights can access comprehensive valuation metrics and 8 additional ProTips through InvestingPro’s detailed research report.
In other recent news, Dynavax Technologies reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.05, surpassing the forecast of $0.04. However, the company missed its revenue forecast, reporting $71.1 million against an expected $72.44 million. For the full year, Dynavax achieved net sales of $268 million, marking a 26% increase from the previous year. The company’s HEPLISAV-B vaccine sales reached record levels, with a 39% year-over-year increase in the fourth quarter. Dynavax has completed half of its planned $200 million share repurchase program and expects to finish the remaining $100 million by the end of 2025. JMP Securities analyst Roy Buchanan raised the price target for Dynavax to $33 from $29, maintaining a Market Perform rating. The company projects HEPLISAV-B net product revenue between $315 million and $325 million for 2025, indicating an expected 17% year-over-year growth. Dynavax’s strategic focus remains on expanding its market share and advancing its product pipeline, including its shingles and plague vaccine programs.
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