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Dynavax downgraded to Sell from Neutral at Goldman Sachs

Dynavax downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs downgraded Dynavax (DVAX) to Sell from Neutral with a price target of $12, down from $15. The evolving competitive landscape in shingles vaccination lowers the potential of the company’s Z-1018 program and increases long-term revenue uncertainty, the analyst tells investors in a research note. In addition, the firm says ” unpredictable demand patters” for repeat hepatitis-B vaccinations in the 2030s, could cloud the long term outlook for Heplisav-B beyond its peak sales despite its market share gains. Goldman says Dynavax now ranks in the lowest quintile for potential upside in its coverage group.

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