Jefferies Reiterates on Dynavax Technologies Awaiting Initiation of HBV-23 Safety Trial

In a report published Friday, Jefferies analyst Thomas Wei reiterated a Buy rating and $3.00 price target on

. In the report, Jefferies noted, “DVAX had recently provided an update on its Heplisav safety study, HBV-23, the critical trial necessary to address the FDA's complete response letter, and so there was no new update in this earnings release. Financials for the quarter were in line. We continue to expect the HBV-23 trial to support a favorable safety and risk-benefit profile for Heplisav, with data around the end of 2015. We maintain our $3 price target and Buy rating.” Dynavax Technologies closed on Thursday at $1.12.