Dynavax Technologies (DVAX) Soars 5.6%: Is Further Upside Left in the Stock?
Dynavax Technologies DVAX shares rallied 5.6% in the last trading session to close at $12.56. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 3.8% gain over the past four weeks.
The increase in the stock price can be attributed to the growing positive momentum surrounding the company's approved product, Heplisav-B. This vaccine is intended to prevent infections caused by all known subtypes of the hepatitis B virus in adults aged 18 years and older.
This biopharmaceutical company is expected to post quarterly loss of $0.10 per share in its upcoming report, which represents a year-over-year change of -111.6%. Revenues are expected to be $48.38 million, down 81.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Dynavax Technologies, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on DVAX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Dynavax Technologies belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Galapagos NV GLPG, closed the last trading session 0.4% lower at $42.08. Over the past month, GLPG has returned 0.6%.
Galapagos NV's consensus EPS estimate for the upcoming report has changed +22.1% over the past month to -$1.08. Compared to the company's year-ago EPS, this represents a change of -248.4%. Galapagos NV currently boasts a Zacks Rank of #3 (Hold).
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