Deutsche Bank Maintains a 'Buy' on Dendreon (DNDN): Buyers on Any Weakness

March 8, 2012 9:30 AM EST Send to a Friend
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Price: $1.03 -0.96%

Rating Summary:
    3 Buy, 18 Hold, 12 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 28 | New: 14
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Deutsche Bank maintains a 'Buy' on Dendreon (NASDAQ: DNDN) price target of $18.00.

Deutsche analyst said, "Johnson & Johnson (NYSE: JNJ) just announced that the Independent Data Monitoring Committee recommended the unblinding of the Zytiga pre-chemo prostate cancer ph 3 trial due to PFS & OS clinical benefit. Placebo patients are now recommended to take Zytiga. JNJ plans to file for FDA approval in H2:12. This is the same indication as Provenge."

"Our view is that hit on interim was expected by many investors. This is more of negative headline risk and we continue to believe current Provenge peak sales of $1.6B ($1.1B in US & $500M in EU) in 2020E are achievable. In our opinion, current DNDN stock price factors in $500M in peak Provenge sales. As per doctor checks, we believe Provenge and Zytiga will be sequenced and both will be used."

For an analyst ratings summary and ratings history on Dendreon click here. For more ratings news on Dendreon click here.

Shares of Dendreon closed at $10.87 yesterday.


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Comments

Prostate Cancer DNDN
Fritz Turton on 2012-03-08 10:28:57
Mark as Spam | Reply to this comment

Somebody needs to talk to an oncologist specializing in prostate cancer. In short there is no "cure" , only a series of delaying tactics using drugs that fight the cancer using varying strategies . There is a necessity for all three drugs mentioned, not either or.


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