Dynavax (DVAX) to Report Q3 Earnings: Will It Beat Estimates?
We expect Dynavax Technologies Corporation DVAX to beat expectations when it reports third-quarter 2023 results. In the last reported quarter, the company came up with an earnings surprise of 133.33%.
The company’s surprise history has been mixed. Earnings beat estimates in two of the trailing four quarters while missing on the other two occasions, the average surprise being 25.78%.
Shares of Dynavax have rallied 29.8% so far this year against the industry’s decline of 21.7%.
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Let’s see how things have shaped up for this announcement.
Factors to Note
Dynavax currently markets two products, a vaccine for hepatitis B called HEPLISAV-B and a CpG 1018 adjuvant, which is used in multiple adjuvanted COVID-19 vaccines.
In the last reported quarter, the company’s top line was driven by the strong sales uptake of HEPLISAV-B, a trend that most likely continued in the third quarter.
HEPLISAV-B sales surged 73% year over year in the last reported quarter, while the vaccine’s market share also increased to approximately 39% during the time. We expect this momentum to have continued in the to-be-reported quarter.
Following the strong HEPLISAV-B performance in the first half of 2023, Dynavax also raised its full-year HEPLISAV-B net product revenue guidance on the second-quarter conference call. On the upcoming earnings call, investor focus is likely to be on whether DVAX raises its guidance again.
This apart, Dynavax also has a pipeline of differentiated product candidates that leverage its CpG 1018 adjuvant, which includes a shingles vaccine, Tdap (tetanus, diphtheria, and pertussis) vaccine and plague vaccine.
Owing to the completion of all obligations and product delivery under DVAX’s CpG 1018 adjuvant COVID-19 collaboration agreements, no CpG 1018 adjuvant-related product revenues were recorded in the second quarter of 2023. We expect no CpG 1018 adjuvant revenues in the to-be-reported quarter as well.
Activities related to pipeline development as well as commercial and marketing cost are likely to have escalated Dynavax’s operating expenses in the to-be-reported quarter.
Earnings Whispers
Our proven model predicts an earnings beat for Dynavax in the to-be-reported quarter. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is the case here, as elaborated below.
Earnings ESP: Dynavax’s Earnings ESP is +700.00%. The Most Accurate Estimate stands at an earnings of 4 cents while the Zacks Consensus Estimate is pegged at a loss of 1 cent. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Dynavax has a Zacks Rank #1 currently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Dynavax Technologies Corporation Price and EPS Surprise
Dynavax Technologies Corporation price-eps-surprise | Dynavax Technologies Corporation Quote
Other Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these too have the right combination of elements to beat on earnings this reporting cycle.
Apellis Pharmaceuticals, Inc. APLS has an Earnings ESP of +5.75% and a Zacks Rank #1.
Apellis’ stock has lost 12.2% in the year-to-date period. APLS beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. Apellis delivered an earnings surprise of 1.36%, on average.
Vertex Pharmaceuticals Incorporated VRTX has an Earnings ESP of +1.25% and a Zacks Rank #3.
Vertex’s stock has increased 27.3% in the year-to-date period. VRTX beat earnings estimates in each of the last four quarters. The company has delivered an earnings surprise of 4.91%, on average. Vertex will report its third-quarter results on Nov 6.
Acadia Pharmaceuticals Inc. ACAD has an Earnings ESP of +6.76% and a Zacks Rank #2.
Acadia’s stock has surged 39.9% in the year-to-date period. ACAD beat earnings estimates in two of the last four quarters while missing the mark on the other two occasions. The company delivered an earnings surprise of 20.33%, on average. Acadia will report its third-quarter results on Nov 2.
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Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report
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