The demand outlook for shingles and hepatitis B vaccines is unclear, Goldman Sachs is bearish on Dynavax Tech
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Goldman Sachs downgraded Dynavax Tech's rating from "Neutral" to "Sell," lowering the target price from $15 to $12 due to the uncertain demand outlook for its shingles and hepatitis B vaccines. Analyst Paul Choi noted that increased competition in the shingles vaccine market could impact the potential value of the Z-1018 project. Dynavax Tech expects net product revenue for HEPLISAV-B to be $268 million in 2024, a 26% increase. As of Tuesday's market close, Dynavax Tech fell 3.79%, closing at $12.70
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