Dendreon Corp. Lowered to “Sell” at UBS AG (DNDN)
Dendreon Corp. (NASDAQ:DNDN) was downgraded by equities research analysts at UBS AG from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Analyst Ratings.Net reports.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank downgraded shares of Dendreon Corp. from a “hold” rating to a “sell” rating in a research note to investors on Friday. They now have a $3.03 price target on the stock, down previously from $3.10. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Dendreon Corp. in a research note to investors on Wednesday, August 14th. They now have a $3.25 price target on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Dendreon Corp. from $4.00 to $3.00 in a research note to investors on Friday, August 9th. They now have a “neutral” rating 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.82.
Dendreon Corp. (NASDAQ:DNDN) traded down 1.37% on Friday, hitting $2.87. 4,777,645 shares of the company’s stock traded hands. Dendreon Corp. has a 52 week low of $2.84 and a 52 week high of $7.22. The stock has a 50-day moving average of $4.14 and a 200-day moving average of $4.62. The company’s market cap is $438.2 million.
Dendreon Corp. (NASDAQ:DNDN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.45) earnings per share for the quarter, missing the analysts’ 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 prior year, the company posted ($0.61) earnings per share. The company’s quarterly revenue was down 8.3% on a year-over-year basis. Analysts expect that Dendreon Corp. will post $-1.68 EPS 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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