Research Analysts’ Recent Ratings Updates for Dendreon (DNDN)
Dendreon (NASDAQ: DNDN) was the recipient of a ratings changes during the seven days:
- Dendreon had its price target lowered by analysts at Jefferies Group from $2.00 to $1.50. They now have an “underperform” rating on the stock.
- Dendreon had its “sell” rating reaffirmed by analysts at Roth Capital.
- Dendreon had its price target lowered by analysts at Cowen and Company from $2.55 to $2.33.
- Dendreon had its “neutral” rating reaffirmed by analysts at Credit Suisse. They now have a $1.50 price target on the stock, down previously from $2.50.
- Dendreon was downgraded by analysts at R. F. Lafferty from a “buy” rating to a “neutral” rating.
- Dendreon had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $1.50 price target on the stock. Zacks‘ analyst wrote, “The news of a probable default by Dendreon was disappointing and pretty much eclipsed second quarter results. Although Dendreon has sufficient cash to meet its ordinary course obligations for at least the next twelve months, the company will surely not be able to repay or refinance its debt due in 2016. Dendreon reported a net loss of $0.10 in the second quarter of 2014, narrower than the Zacks Consensus Estimate of $0.18 and the year-ago loss of $0.45. Total revenue in the reported quarter was up 12.1% year over year to $82.2 million and beat the Zacks Consensus Estimate of $74 million. The departure of the company’s CEO further increases the uncertainty surrounding Dendreon. We maintain our Neutral recommendation on the stock.”
Shares of Dendreon Co. (NASDAQ:DNDN) traded down 0.70% on Thursday, hitting $1.41. 3,466,875 shares of the company’s stock traded hands. Dendreon Co. has a 52-week low of $1.24 and a 52-week high of $3.52. The stock has a 50-day moving average of $2.10 and a 200-day moving average of $2.47. The company’s market cap is $225.7 million.
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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