Collins Stewart Maintains a 'Neutral' on Dendreon (DNDN); Takeaways from Marketing with Management
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Price: $3.95 -0.25%
Rating Summary:
5 Buy, 15 Hold, 12 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
5 Buy, 15 Hold, 12 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade DNDN Now!
Collins Stewart maintains a 'Neutral' on Dendreon (NASDAQ: DNDN) price target of $15.00.
Collins analyst says, "On Wednesday, we hosted a marketing day in NY with DNDN's CFO, Greg Schiffman and IR, Nicole Soley. September Provenge gross revenue is required to be ~$24.5M (includes ~4% discount due to 340B) in order to meet 3Q11 consensus of $63M (net revenue; $252M annual run rate), which we believe is likely achievable given it suggests 11.4% MoM growth (below prior MoM growth of 15.8%) and that early-September order growth surpassed the prior 2 months. 4Q11, while demonstrating growth, will likely be affected by the November/December holiday season. We are encouraged by the revised marketing strategy for urologists (educate on buy-and-bill, infusions, early-scanning and overall survival) vs. oncologists, given the longer window for Provenge eligibility and limited competition from Zytiga in this setting."
For more ratings news on Dendreon click here and for the rating history of Dendreon click here.
Shares of Dendreon closed at $9.27 yesterday, with a 52 week range of $7.81-$43.96.
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Collins analyst says, "On Wednesday, we hosted a marketing day in NY with DNDN's CFO, Greg Schiffman and IR, Nicole Soley. September Provenge gross revenue is required to be ~$24.5M (includes ~4% discount due to 340B) in order to meet 3Q11 consensus of $63M (net revenue; $252M annual run rate), which we believe is likely achievable given it suggests 11.4% MoM growth (below prior MoM growth of 15.8%) and that early-September order growth surpassed the prior 2 months. 4Q11, while demonstrating growth, will likely be affected by the November/December holiday season. We are encouraged by the revised marketing strategy for urologists (educate on buy-and-bill, infusions, early-scanning and overall survival) vs. oncologists, given the longer window for Provenge eligibility and limited competition from Zytiga in this setting."
For more ratings news on Dendreon click here and for the rating history of Dendreon click here.
Shares of Dendreon closed at $9.27 yesterday, with a 52 week range of $7.81-$43.96.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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