Equities research analysts at Canaccord Genuity lowered their price objective on shares of Dendreon Corp. (NASDAQ:DNDN) from $5.00 to $3.00 in a research note issued to investors on Tuesday, Stock Ratings Network reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 16.28% from the stock’s previous close.
Shares of Dendreon Corp. (NASDAQ:DNDN) traded up 3.20% on Tuesday, hitting $2.58. The stock had a trading volume of 9,252,830 shares. 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 $2.65 and its 200-day moving average is $3.59. The company’s market cap is $394.0 million.
Dendreon Corp. (NASDAQ:DNDN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.44) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.33) earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis. Analysts expect that Dendreon Corp. will post $-1.74 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company reiterated a “neutral” rating on shares of Dendreon Corp. in a research note to investors on Tuesday. Separately, 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. Finally, analysts at Wedbush reiterated an “underperform” rating on shares of Dendreon Corp. in a research note to investors on Monday, October 28th. Ten investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price 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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