Dynavax (DVAX) AI Stock Analysis

• Market Cap: $1.24B
• Dividend Yield: N/A
• Average Volume (3M): 1.65M
• Price to Earnings (P/E): 64.5
• Beta (1Y): 0.31
• Revenue Growth: 24.76%
• EPS Growth: -783.38%
• Country: US
• Employees: 405
• Sector: Healthcare
• Sector Strength: 39
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.77
• Shares Outstanding: 120,080,650
• 10 Day Avg. Volume: 1,471,155
• 30 Day Avg. Volume: 1,645,893
• PEG Ratio: 0.06
• Price to Book (P/B): 2.35
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 22.21
• Enterprise Value/Market Cap: 1.16
• Enterprise Value/Revenue: 1.32
• Enterprise Value/Gross Profit: 5.92
• Enterprise Value/Ebitda: 39.41
• 1Y Price Target: $19.00
• Price Target Upside: 75.76% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5

• Rating: 52 Neutral
• Price Target: $10.50 ▼(-2.87%Downside)

The overall stock score for Dynavax is primarily influenced by its financial performance struggles, including revenue contraction and net losses, which weigh heavily on the rating. Despite this, the earnings call presented a positive outlook with strong revenue growth and market share gains for HEPLISAV-B, offering a glimmer of hope for future performance. Technical analysis and valuation factors also contributed to the score but were less impactful.

Positive Factors

Growth Potential

Analyst's recommendation remains 'Outperform', indicating confidence in the company's growth potential.

Market Share

Heplisav has continued to gain and maintain market share, with an estimated share of the U.S. HBV market increasing to ~43% in Q1.

Profitability

Heplisav-B gross margin was 82% in 4Q24, indicating strong profitability from the product.

Negative Factors

Sales Estimates

First-quarter Heplisav sales came in below estimates, reflecting a miss on expectations.

Sales Performance

Year-over-year market share gains and revenue growth of 36% are still encouraging despite a slight miss on sales estimates.

Dynavax Business Overview & Revenue Model

Company Description

Dynavax Technologies Corporation (DVAX) is a biopharmaceutical company that focuses on leveraging the power of the body's innate and adaptive immune responses to treat and prevent disease. The company specializes in developing vaccines and therapeutics, with a particular emphasis on immunology and infectious diseases. Its core product, HEPLISAV-B, is a hepatitis B vaccine that offers protection with a two-dose regimen over a one-month period, catering primarily to the adult population.

How the Company Makes Money

Dynavax makes money primarily through the commercialization of its proprietary vaccines. The company's revenue model is centered around the sales of HEPLISAV-B, which it markets and distributes primarily in the United States. Dynavax generates income by selling the vaccine to healthcare providers, distributors, and government entities. Additionally, the company engages in strategic partnerships and collaborations to expand its research and development pipeline, potentially leading to milestone payments and royalties. Factors such as government recommendations, public health initiatives, and the prevalence of hepatitis B infection significantly influence the demand for HEPLISAV-B, contributing to the company's earnings.

Dynavax Financial Statement Overview

Summary

Dynavax faces significant revenue contraction and net losses, with a TTM revenue of $294.6M compared to $722.7M the previous year. The income statement is negatively impacted by a net loss of $60.1M, despite a high gross profit margin of 82.3%. The balance sheet shows moderate strength with a debt-to-equity ratio of 0.54, but declining equity and rising debt raise concerns. Cash flow management is adequate but operational inefficiencies persist.

Income Statement

The income statement shows declining revenue from the previous fiscal year, with a TTM revenue of $294.6M compared to the previous annual revenue of $722.7M. Gross profit margin for the TTM is approximately 82.3%, indicating strong product profitability. However, the net profit margin is negative, at -20.4%, due to a net loss of $60.1M. This reflects challenges in cost management and achieving profitability.

Balance Sheet

The balance sheet is moderately strong, with a debt-to-equity ratio of 0.54, suggesting a balanced use of leverage. The equity ratio stands at 56.1%, highlighting a solid equity base. However, the decline in stockholders' equity and rising total debt indicate potential financial stress.

Cash Flow

Cash flow analysis reveals a positive operating cash flow of $63.6M in the TTM, but free cash flow has decreased compared to the previous year. The operating cash flow to net income ratio is negative, reflecting operational inefficiencies. The free cash flow to net income ratio is positive, suggesting better cash flow management despite net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	294.62M	277.25M	232.28M	722.68M	439.44M	46.55M
Gross Profit	242.37M	227.80M	182.12M	460.53M	265.87M	32.64M
EBITDA	-54.37M	45.70M	9.67M	307.70M	95.71M	-46.84M
Net Income	-60.07M	27.31M	-6.39M	293.16M	76.71M	-91.78M
Balance Sheet
Total Assets	945.93M	986.26M	997.10M	985.85M	1.04B	353.27M
Cash, Cash Equivalents and Short-Term Investments	661.34M	713.83M	742.30M	624.39M	545.95M	165.04M
Total Debt	286.03M	254.42M	256.91M	258.01M	257.38M	217.85M
Total Liabilities	414.99M	389.46M	375.02M	404.84M	816.87M	294.58M
Stockholders Equity	530.94M	596.80M	622.07M	581.01M	222.37M	58.69M
Cash Flow
Free Cash Flow	54.02M	60.16M	96.46M	55.58M	326.05M	-103.32M
Operating Cash Flow	63.55M	66.51M	100.56M	62.72M	335.53M	-92.25M
Investing Cash Flow	-13.96M	-18.04M	-153.93M	-316.00M	14.22M	-26.53M
Financing Cash Flow	-129.70M	-102.02M	1.39M	19.52M	55.78M	109.50M

Dynavax Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.81
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DVAX, the sentiment is Positive. The current price of 10.81 is above the 20-day moving average (MA) of 10.13, above the 50-day MA of 10.17, and below the 200-day MA of 11.86, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 61.01 is Neutral, neither overbought nor oversold. The STOCH value of 84.06 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DVAX.

Dynavax Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ANIP	74 Outperform	$1.41B	―	-5.19%	―	30.26%	-173.36%
SUPN	72 Outperform	$1.76B	29.06	6.32%	―	11.82%	―
AMPH	69 Neutral	$1.08B	8.20	19.90%	―	8.05%	-8.46%
PCRX	60 Neutral	$1.08B	―	-12.27%	―	3.08%	-247.82%
DVAX	52 Neutral	$1.24B	64.45	-10.45%	―	24.76%	-783.38%
Sector *	52 Neutral	$7.45B	0.27	-61.87%	2.30%	16.62%	1.04%
EVO	49 Neutral	$1.50B	―	-20.41%	―	0.45%	-125.61%

Dynavax Corporate Events

Dynavax Elects Directors and Approves Key Amendments

On April 14, 2025, Dynavax held its Annual Meeting where stockholders elected four Class I directors to serve until the 2028 meeting. The meeting also saw the approval of executive compensation, the ratification of Ernst & Young LLP as the independent auditor, and the amendment of the Certificate of Incorporation to declassify the Board. However, a stockholder proposal to amend the bylaws without stockholder approval was not passed.

The most recent analyst rating on (DVAX) stock is a Buy with a $31.00 price target. To see the full list of analyst forecasts on Dynavax stock, see the DVAX Stock Forecast page.

Dynavax Appoints New Chief Accounting Officer

On May 8, 2025, Dynavax Technologies Corporation announced the appointment of Joseph Metzinger as Vice President and Chief Accounting Officer, effective May 12, 2025. Metzinger, a seasoned financial executive with 19 years of experience, has been consulting for Dynavax since 2024 and previously held senior roles at CFGI and ACC Consumer Finance. His appointment includes a base salary, performance bonus, and stock options, with no familial or transactional ties to current executives.

The most recent analyst rating on (DVAX) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on Dynavax stock, see the DVAX Stock Forecast page.