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Jefferies Sees 600%+ Upside in Dynavax (DVAX)

October 16, 2013 9:53 AM EDT Send to a Friend

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Price: $1.18 +0.85%

Rating Summary:
5 Buy, 2 Hold, 0 Sell

Rating Trend: Up

Today's Overall Ratings:
Up: 15 | Down: 34 | New: 40

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Jefferies analyst Biren Amin boosted his price target on Buy-rated Dynavax Technologies (NASDAQ: DVAX) from $5 to $8.50 Wednesday, suggesting 620% upside.

"We believe DX-2930 for prophylactic tx of HAE offers upside from current valuation," Amin said. "Based on preclinical data and a comparison w/ BCRX's BCX4161 PI data, we expect data from the PIa trial (1Q14) to be favorable. Adding DX-2930 to our model and adjusting for recent updates to its LFRP pgrm, we are raising our PT to $8.50 (v. $5 prev)."

For an analyst ratings summary and ratings history on Dynavax Technologies click here. For more ratings news on Dynavax Technologies click here.

Shares of Dynavax Technologies closed at $1.17 yesterday, with a 52 week range of $0.98-$5.09.