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Fly News Breaks for May 24, 2019
DVAX
May 24, 2019 | 08:46 EDT
RBC Capital analyst Brian Abrahams lowered his price target on Dynavax to $13 after the company's announced restructuring to de-emphasize oncology, including its SD-101 assets, in favor of its HBV vaccine. The analyst states that a partnership would have been a better outcome for its SD-101 program, but now sees that possibility as unlikely. Abrahams still keeps his Outperform rating on Dynavax shares and believes that a reset in the management's focus should be bet with "good investor receptivity."
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