Is it a Good Idea to Invest in Dynavax (DVAX) Stock Now?
Dynavax Technologies Corporation DVAX makes innovative vaccines against infectious diseases. At present, it 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.
HEPLISAV-B is the first and only adult hepatitis B vaccine approved in the United States, EU and Great Britain that allows series completion with only two doses in a month.
The hepatitis B market continues to grow in the United States, following the recommendation from the Centers for Disease Control and Prevention's Advisory Committee of Immunization Practices for adult hepatitis B vaccination. Dynavax expects the U.S. hepatitis B market to grow to more than $800 million by 2027 and is hopeful about securing a majority market share.
HEPLISAV-B is seeing strong revenue growth backed by the continued expansion of the hepatitis B vaccine market and market share gains. HEPLISAV-B commands approximately 39% of the total market share of the hepatitis B vaccine market. Its sales are exceeding expectations. Sales of HEPLISAV-B rose 73% in the second quarter of 2023.
As a result of the strong HEPLISAV-B performance in the first half of 2023, Dynavax also raised its full-year HEPLISAV-B net product revenue guidance at the second quarter conference call. With the increase guidance range. Dynavax expects HEPLISAV-B sales growth of 58% to 70% this year. The strong performance of HEPLISAV-B has also strengthened its cash position.
The stock of Dynavax Technologies has risen 36.8% so far this year against a decrease of 18.5% for the industry.
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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.
Dynavax Technologies has a Zacks Rank #1 (Strong Buy) currently. Estimates for Dynavax Technologies’ 2023 loss per share have narrowed from 51 cents per share to a loss of 22 cents per share over the past 60 days, while those for 2024 have narrowed from a loss of 24 cents per share to a gain of 8 cents per share over the same timeframe.
Dynavax Technologies Corporation Price and Consensus
Dynavax Technologies Corporation price-consensus-chart | Dynavax Technologies Corporation Quote
Other Stocks to Consider
Some other top-ranked drug/biotech companies worth considering are Aurinia Pharmaceuticals AUPH, MEI Pharma MEIP and Alpine Immune Sciences ALPN. While Aurinia Pharmaceuticals and MEI Pharma have a Zacks Rank #1 each, Alpine Immune Sciences has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 90 days, the loss per share estimate for Aurinia Pharmaceuticals for 2023 has narrowed from 71 cents per share to 58 cents per share, while that for 2024 has narrowed from 43 cents to 27 cents. Year to date, shares of Aurinia Pharmaceuticals have gained 77.8%.
Earnings of Aurinia Pharmaceuticals beat estimates in all the last four quarters, delivering an earnings surprise of 45.61% on average.
In the past 90 days, the Zacks Consensus Estimate for MEI Pharma’s loss per share has narrowed from $6.54 to $4.89 for 2023. The bottom-line estimate for 2024 has also improved from a loss of $5.14 to a loss of $4.02 during the same time frame. Shares of the company have rallied 41.8% year to date.
MEIP’s earnings beat estimates in three of the trailing four quarters while meeting the same in one, delivering an average earnings surprise of 53.58%.
In the past 90 days, the consensus estimate for Alpine Immune Sciences’ 2023 loss has narrowed from $1.43 per share to $1.18 per share, while the same for 2024 has narrowed from $1.73 per share to $1.47 per share. Year to date, shares of Alpine Immune Sciences have rallied 36.6%.
ALPN’s earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, delivering an average negative earnings surprise of 79.65%.
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Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report
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