Dendreon Corp. (NASDAQ:DNDN) was downgraded by investment analysts at Needham & Company from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Dendreon Corp. (NASDAQ:DNDN) opened at 2.58 on Tuesday. Dendreon Corp. has a 52 week low of $2.23 and a 52 week high of $7.22. The stock’s 50-day moving average is $2.6 and its 200-day moving average is $3.58. The company’s market cap is $394.0 million. Dendreon Corp. also saw some unusual options trading activity on Tuesday. Traders purchased 12,616 put options on the company. This represents an increase of 210% compared to the typical volume of 4,074 put options.
Dendreon Corp. (NASDAQ:DNDN) last released its earnings data on Tuesday, November 12th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by $0.02. The company had revenue of $68.00 million for the quarter, compared to the consensus estimate of $76.60 million. During the same quarter in the previous year, the company posted ($0.33) earnings per share. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. On average, analysts predict that Dendreon Corp. will post $-1.74 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on DNDN. Analysts at CRT Capital initiated coverage on shares of Dendreon Corp. in a research note to investors on Wednesday, November 6th. They set a “fair value” rating on the stock. Separately, analysts at Wedbush reiterated an “underperform” rating on shares of Dendreon Corp. in a research note to investors on Monday, October 28th. Finally, analysts at Maxim Group upgraded shares of Dendreon Corp. from a “hold” rating to a “buy” rating in a research note to investors on Monday, October 28th. They now have a $10.00 price target on the stock, up previously from $3.00. Ten analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Dendreon Corp. currently has a consensus rating of “Hold” and a consensus price target of $5.44.
Dendreon Corporation (NASDAQ:DNDN) is a biotechnology company focused on the discovery, development and commercialization of therapeutics that may significantly improve cancer treatment options for patients.
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