William Blair analyst Matt Phipps has maintained their bullish stance on DVAX stock, giving a Buy rating on August 8.
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Matt Phipps has given his Buy rating due to a combination of factors, primarily focusing on the promising developments in Dynavax’s pipeline. The company recently announced encouraging top-line data from the initial phase of its shingles vaccine candidate, Z-1018, which demonstrated better-than-expected immunogenicity. This was evident through comparable vaccine response rates in both anti-gE IgG antibodies and gE-specific CD4+ T cells, alongside a favorable safety profile when compared to Shingrix.
Additionally, while the market’s attention is largely on the revenue growth and market share expansion of Heplisav, the potential of Z-1018 as a significant asset in a multi-billion-dollar market is gaining traction. The advancement of Z-1018 into the next phase of trials, particularly in an older demographic, is a strategic move that could solidify its position as a competitive alternative to existing vaccines. These factors, combined with the potential for Dynavax to achieve substantial annual revenue from Heplisav, underpin Phipps’s optimistic outlook and Buy rating for the stock.
Phipps covers the Healthcare sector, focusing on stocks such as Upstream Bio, Inc., Amgen, and Incyte. According to TipRanks, Phipps has an average return of -4.8% and a 41.35% success rate on recommended stocks.
In another report released on August 8, Citizens JMP also maintained a Buy rating on the stock with a $32.00 price target.