Dendreon Price Target Cut to $2.33 (DNDN)
Stock analysts at Cowen and Company cut their price objective on shares of Dendreon (NASDAQ:DNDN) from $2.55 to $2.33 in a report issued on Tuesday. Cowen and Company’s target price indicates a potential upside of 9.91% from the company’s current price.
Dendreon (NASDAQ:DNDN) traded down 36.32% on Tuesday, hitting $1.3501. 13,830,552 shares of the company’s stock traded hands. Dendreon has a 52-week low of $1.81 and a 52-week high of $3.52. The stock’s 50-day moving average is $2.16 and its 200-day moving average is $2.49. The company’s market cap is $209.4 million.
Dendreon (NASDAQ:DNDN) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.10) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.25) by $0.15. The company had revenue of $82.16 million for the quarter, compared to the consensus estimate of $73.37 million. During the same quarter last year, the company posted ($0.45) earnings per share. Dendreon’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that Dendreon will post $-0.79 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group cut their price target on shares of Dendreon from $2.00 to $1.50 in a research note on Tuesday. Analysts at Zacks reiterated a “neutral” rating on shares of Dendreon in a research note on Friday, July 18th. They now have a $2.25 price target on the stock. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $2.62.
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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