Dynavax price target lowered to $31 from $33 at Citizens JMP

Citizens JMP analyst Jason Butler lowered the firm’s price target on Dynavax (DVAX) to $31 from $33 and keeps an Outperform rating on the shares. Dynavax reported record Q1 net HEPLISAV-B sales, a 36% increase over last year, with total market share increasing by 2%, to 43%, and expects to end 2025 in the top-half of guidance of net HEPLISAV-B sales of $305M-$325M, the analyst tells investors in a research note. New pipeline programs include an H5N1 flu vaccine trial to start this year, plus Lyme disease to be in the clinic in 2027, the firm says.