Share on StockTwits

Investment analysts at Jefferies Group cut their price objective on shares of Dendreon (NASDAQ:DNDN) from $2.00 to $1.50 in a note issued to investors on Tuesday. The firm currently has an “underperform” rating on the stock. Jefferies Group’s price target suggests a potential downside of 29.25% from the company’s current price.

Shares of Dendreon (NASDAQ:DNDN) traded down 33.96% on Tuesday, hitting $1.40. 21,520,500 shares of the company’s stock traded hands. Dendreon has a 52-week low of $1.33 and a 52-week high of $3.52. The stock’s 50-day moving average is $2.14 and its 200-day moving average is $2.48. The company’s market cap is $217.2 million.

Dendreon (NASDAQ:DNDN) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.45) earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts expect that Dendreon will post $-0.79 EPS for the current fiscal year.

Separately, 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. Eight analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Dendreon currently has an average rating of “Hold” and an average target price of $2.73.

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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.