Dynavax (DVAX) Upgraded To Outperform

Dynavax Technologies’ (NASDAQ: DVAX) Heplisav is expected to get regulatory approval both in the US and the European Union by the end of 2012. Wunderlich believes that Dynavax stock value has been depressed by the clinical hold debacle with Heplisav in 2008-09, and has upgraded the stock to Outperform. The price target has been raised to $6.00.

Heplisav’s chances of success are extremely high at present, and Dynavax offers compelling risk-reward opportunities to investors at its current levels. A strong management team and a healthy balance sheet have also boosted confidence in Dynavax’s ability to execute its plans.