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Cowen Defends Dynavax Technologies Corporation (DVAX) Following FDA Setback

Dynavax Technologies Corporation (NASDAQ:DVAX): The stock opened in the green at $16.01 on Friday, but the bulls found it hard to push the prices higher. The share price of $10.91 is at a distance of -15.03 percent from its 52-week low and down -66.42 percent versus its peak.

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Auris Medical Holding AG (NASDAQ:EARS) traded 311912 shares on last trading day with closing price of $1.71. Current stock price is in the upbeat territory taking into account of 20 days moving average with 1.31% and continued bullish run for 50 days moving average with 1.84%. The company has a market cap of $613.58M and now has 56.24M shares outstanding.

In a research report issued this morning, Cowen Phil Nadeau reiterated an Outperform rating on shares of Dynavax Technologies Corporation (NASDAQ:DVAX), with a price target of $45, following the news that the FDA had cancelled its upcoming ADCOM meeting for the company’s Hepatitis-B vaccine, sending shares down almost 32% on Friday.

The meeting was cancelled to allow time to review several outsanding issues with the drug. The FDA informed Dynavax that it plans to provide information requests related to remaining questions in the upcoming weeks.

Moving toward technical analysis, the current ratio, or the liquidity ratio of a firm was calculated 1.60 as compared to its debt to equity ratio stands at 0.22. Dynavax is prepared to address these questions expeditiously in order to enable the FDA to complete its review as soon as possible. The Low projection of Price Target by the analysts stands at $16 while the High projection stands at $45. Investors looking additional ahead will note that the Price to next year’s EPS is 39.20%. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal.

Dynavax Technologies Corporation’s (DVAX) made a return of -31.60%% in one month through last close, displaying a -35.10% return during the past three months.

Mast Therapeutics, Inc. (MSTX) on September 1, 2016 announced that the Company’s Chief Executive Officer, Brian M. Culley, will present at the 18th Annual Rodman & Renshaw Global Investment Conference on Tuesday, September 13, 2016 at 11:40 a.m.

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Always volatility measures make charm for active trader; price volatility of stock was 15.32% for a week and 6.83% for a month. DVAX’s value Change from Open was at -31.86% with a Gap of 0.44%.

The FDA Cancelled Dynavax's Hep-B Drug ADCOM Meeting