Why Dynavax Stock Popped by Over 5% Today
A positive analyst take on Dynavax Technologies' (NASDAQ: DVAX) stock lit the biotech company's shares on fire Tuesday. While many other stocks traded down on the day, Dynavax soared more than 5% higher on the back of that bullish review.
The enthusiastic analyst is JMP Securities' Roy Buchanan, who initiated coverage on Dynavax stock early Tuesday morning. Buchanan's recommendation is market outperform (buy, in other words) at a price target of $22 per share. Even after the resulting price pop, that's still more than double the stock's current level.
Dynavax's star product line these days is its adjuvant technology. Adjuvants are substances that essentially amplify the effect of vaccines, and as such are extremely helpful at times like now when vaccines are critically important to the world.
Source Fool.com
