Brokerages Anticipate Dynavax Technologies Co. (DVAX) Will Post Earnings of -$0.58 Per Share

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Wall Street brokerages forecast that Dynavax Technologies Co. (NASDAQ:DVAX) will report earnings per share of ($0.58) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Dynavax Technologies’ earnings. The highest EPS estimate is ($0.56) and the lowest is ($0.60). Dynavax Technologies posted earnings per share of ($0.38) in the same quarter last year, which would indicate a negative year over year growth rate of 52.6%. The company is scheduled to report its next quarterly earnings report on Friday, November 2nd.

According to Zacks, analysts expect that Dynavax Technologies will report full-year earnings of ($2.39) per share for the current financial year, with EPS estimates ranging from ($2.42) to ($2.33). For the next financial year, analysts forecast that the business will post earnings of ($1.46) per share, with EPS estimates ranging from ($1.70) to ($1.23). Zacks’ EPS calculations are an average based on a survey of research firms that follow Dynavax Technologies.

Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly earnings results on Monday, August 6th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.01). The company had revenue of $1.25 million during the quarter, compared to analyst estimates of $1.88 million. Dynavax Technologies had a negative net margin of 8,570.06% and a negative return on equity of 72.31%. The company’s quarterly revenue was up 1094.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.41) EPS.

Several brokerages have recently weighed in on DVAX. BidaskClub cut Dynavax Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. ValuEngine cut Dynavax Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Finally, Cantor Fitzgerald set a $27.00 price target on Dynavax Technologies and gave the company a “buy” rating in a research note on Monday, June 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.50.

In related news, insider Michael S. Ostrach sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $15.53, for a total transaction of $62,120.00. Following the completion of the sale, the insider now owns 80,554 shares of the company’s stock, valued at $1,251,003.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DVAX. Tiverton Asset Management LLC acquired a new stake in Dynavax Technologies during the second quarter worth approximately $184,000. WINTON GROUP Ltd acquired a new stake in Dynavax Technologies during the first quarter worth approximately $199,000. Xact Kapitalforvaltning AB acquired a new stake in Dynavax Technologies during the first quarter worth approximately $200,000. Commonwealth Equity Services LLC acquired a new stake in Dynavax Technologies during the first quarter worth approximately $212,000. Finally, Bank of Montreal Can grew its stake in Dynavax Technologies by 365.4% during the second quarter. Bank of Montreal Can now owns 13,938 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 10,943 shares during the period. 78.57% of the stock is owned by institutional investors and hedge funds.

Shares of DVAX stock opened at $12.60 on Friday. The stock has a market capitalization of $832.79 million, a PE ratio of -7.28 and a beta of 0.29. The company has a quick ratio of 8.67, a current ratio of 8.87 and a debt-to-equity ratio of 0.76. Dynavax Technologies has a 1-year low of $12.25 and a 1-year high of $24.45.

About Dynavax Technologies

Dynavax Technologies Corporation, a biopharmaceutical company, focuses on leveraging the power of the body's innate and adaptive immune responses through toll-like receptor (TLR) stimulation. The company's lead product candidates include HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of the virus in adults age 18 years and older; SD-101, a cancer immunotherapy that is in Phase 2 clinical studies; and DV281, an investigational TLR9 agonist for the treatment of non-small cell lung cancer.

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