Zacks reiterated their neutral rating on shares of Dendreon Corp. (NASDAQ:DNDN) in a research note released on Monday morning, AnalystRatingsNetwork reports. They currently have a $3.00 target price on the stock.
Zacks’ analyst wrote, “Dendreon’s second-quarter 2013 loss of $0.41 per share was narrower than the year-ago loss of $0.59 and the Zacks Consensus Estimate of a loss of $0.43 per share. The company’s second quarter sales were disappointing, declining around 8.3% to $73.3 million. We are disappointed with Provenge sales in the first half of the year. Moreover, management’s statement at the second quarter conference call that the company’s 2013 Provenge sales will not be able to beat the 2012 sales figure is also concerning. We are apprehensive about Dendreon’s high dependence on Provenge for growth. We expect investor focus to remain on Provenge’s performance. We maintain our Neutral recommendation on the stock. Our target price is $3.00.”
A number of other analysts have also recently weighed in on DNDN. Analysts at Maxim Group upgraded shares of Dendreon Corp. from a sell rating to a hold rating in a research note to investors on Wednesday, September 18th. They noted that the move was a valuation call. Separately, analysts at Needham & Company reiterated a positive rating on shares of Dendreon Corp. in a research note to investors on Tuesday, September 17th. Finally, analysts at R. F. Lafferty initiated coverage on shares of Dendreon Corp. in a research note to investors on Monday, September 9th. They set a buy rating and a $8.00 price target on the stock. Nine research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Dendreon Corp. presently has an average rating of Hold and an average price target of $5.00.
Dendreon Corp. (NASDAQ:DNDN) opened at 2.62 on Monday. Dendreon Corp. has a 1-year low of $2.55 and a 1-year high of $7.22. The stock has a 50-day moving average of $2.96 and a 200-day moving average of $3.94. The company’s market cap is $400.1 million.
Dendreon Corp. (NASDAQ:DNDN) last released its earnings data on Thursday, August 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by $0.03. The company had revenue of $73.30 million for the quarter, compared to the consensus estimate of $75.61 million. During the same quarter in the previous year, the company posted ($0.61) earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, analysts predict that Dendreon Corp. will post $-1.72 earnings per share for the current fiscal year.
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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