Dendreon Given Average Recommendation of “Hold” by Brokerages (NASDAQ:DNDN)
Shares of Dendreon (NASDAQ:DNDN) have been given a consensus rating of “Hold” by the nineteen analysts that are covering the stock, ARN reports. Seven analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $2.83.
Dendreon (NASDAQ:DNDN) traded down 5.12% on Tuesday, hitting $2.04. 917,710 shares of the company’s stock traded hands. Dendreon has a 52 week low of $1.81 and a 52 week high of $5.38. The stock’s 50-day moving average is $2.27 and its 200-day moving average is $2.79. The company’s market cap is $316.4 million.
Dendreon (NASDAQ:DNDN) last released its earnings data on Thursday, May 8th. The company reported ($0.24) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.28) by $0.04. The company had revenue of $68.70 million for the quarter, compared to the consensus estimate of $69.19 million. During the same quarter last year, the company posted ($0.48) earnings per share. Dendreon’s revenue was up 1.8% compared to the same quarter last year. On average, analysts predict that Dendreon will post $-0.78 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on DNDN shares. Analysts at Zacks reiterated a “neutral” rating on shares of Dendreon in a research note on Tuesday, May 13th. They now have a $2.25 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Dendreon in a research note on Friday, May 9th. They now have a $2.00 price target on the stock, down previously from $3.00. Finally, analysts at Maxim Group downgraded shares of Dendreon from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. They now have a $1.00 price target on the stock, down previously from $4.00.
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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