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Investing.com - Citizens has reiterated its Market Outperform rating on Dynavax Technologies (NASDAQ:DVAX) with a price target of $32.00 following analysis of the company’s vaccine candidate data. Currently trading at $10.12, the stock shows significant upside potential to Citizens’ target. InvestingPro data reveals the company maintains a strong balance sheet with more cash than debt, while posting impressive revenue growth of ~27% in the last twelve months.
The research firm maintained its positive outlook after reviewing Phase 2 dosing data for Dynavax’s vaccine candidate, noting that the selected dose "matches well vs. Shingrix in terms of CD4+ T-cells."
Citizens acknowledged this data had been previously disclosed to investors and represents an important benchmark comparison to GSK’s established shingles vaccine Shingrix.
The firm observed that while lower T-cell levels for certain groups presented at IDWeek "would lead us to become more cautious on the candidate," the antibody responses from the vaccine "look robust."
The $32 price target remains unchanged and is based on a risk-adjusted, discounted cash flow analysis of Dynavax Technologies’ business prospects.
In other recent news, Dynavax Technologies Corporation has reported positive topline data for its shingles vaccine candidate, Z-1018, at IDWeek 2025. The data from Part 1 of a Phase 1/2 clinical trial showed that Z-1018 has comparable antibody and T-cell responses to the market leader, Shingrix, with a favorable tolerability profile. This development led TD Cowen to reiterate its Buy rating with a $25.00 price target, citing the vaccine’s comparable immunogenicity and lower adverse events. Citizens JMP also maintained its Market Outperform rating with a $32.00 price target, expressing encouragement over the vaccine’s tolerability and immune responses. Despite these positive trial results, Goldman Sachs reiterated its Sell rating, maintaining an $11.00 price target, due to unspecified concerns. In addition to these developments, Dynavax announced executive changes, with David F. Novack transitioning to Senior Vice President and Chief Operating Officer, effective January 1, 2026. Meanwhile, Robert Janssen, M.D., will be stepping down from his roles, with his employment concluding by March 2, 2026. These changes are part of an internal realignment approved by the Board of Directors.
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