Dendreon Rating Reiterated by Credit Suisse (DNDN)
Dendreon (NASDAQ:DNDN)‘s stock had its “neutral” rating reaffirmed by research analysts at Credit Suisse in a report released on Wednesday. They currently have a $1.50 price objective on the stock, down from their previous price objective of $2.50. Credit Suisse’s price target would indicate a potential upside of 7.14% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Roth Capital reiterated a “sell” rating on shares of Dendreon in a research note on Tuesday. Separately, analysts at Cowen and Company cut their price target on shares of Dendreon from $2.55 to $2.33 in a research note on Tuesday. Finally, analysts at Jefferies Group cut their price target on shares of Dendreon from $2.00 to $1.50 in a research note on Tuesday. They now have an “underperform” rating on the stock. Eight analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $2.65.
Dendreon (NASDAQ:DNDN) traded down 11.43% during mid-day trading on Wednesday, hitting $1.24. 2,340,031 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 has a 50-day moving average of $2.14 and a 200-day moving average of $2.48. The company’s market cap is $198.5 million.
Dendreon (NASDAQ:DNDN) last released its 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 $-0.78 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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