Deutsche Bank Starts Dendreon (DNDN) at Buy, $44 Price Target

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Deutsche Bank initiates coverage on Dendreon Corporation (Nasdaq: DNDN) with a Buy rating and $44 price target.

The firm says, "We have used conservative assumptions for peak sales Ex-US ($1.3B) because we believe the high price point of Provenge could limit uptake."

Deutsche also believes Provenge will not need additional trials citing:

• Our analysis of EU regulatory documents
  
• Discussions with consultants on how the EU views this class of drugs
  
• Read-across from what the EU has said recently to other companies designing trials for cancer immunotherapies.

To see all the analyst action on shares of DNDN, visit our Analyst Ratings page.

Dendreon Corporation, a biotechnology company, engages in the discovery, development, and commercialization of therapeutics to enhance cancer treatment options for patients.

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