In a report released yesterday, Phil Nadeau from TD Cowen maintained a Buy rating on Dynavax, with a price target of $25.00.
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Phil Nadeau has given his Buy rating due to a combination of factors surrounding Dynavax’s performance and future prospects. The company reported impressive second-quarter sales for its Heplisav vaccine, which exceeded both the firm’s and market expectations, driven by increased demand and some favorable one-time adjustments. This strong performance has led to an upward revision of the revenue guidance for Heplisav, indicating confidence in sustained growth.
Additionally, Dynavax is well-positioned to capture a significant share of the expanding U.S. HBV vaccine market, with expectations of achieving a majority market share by 2027. The company is also making progress in its Z-1018 shingles vaccine trial, with promising data expected soon. These factors suggest that Dynavax is undervalued, supporting the Buy rating as the company is poised for continued growth and market expansion.