Canaccord Genuity Maintains a 'Buy' on Dendreon (DNDN); Believe Shares Have Been Over-sold
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Price: $0.13 --0%
Rating Summary:
2 Buy, 15 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 15 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Canaccord Genuity maintains a 'Buy' on Dendreon (NASDAQ: DNDN) price target of $19.00.
Canaccord analyst says, "We believe shares may have been over-sold following management retraction of 2011 Provenge sales guidance in the face of uncertain reimbursement headwinds."
"Key driver: Provenge commercial penetration in the metastatic castration-resistant prostate cancer market...Management acknowledged that the team failed to appreciate the reluctance of urology customers to adopt a "buy and bill" model incorporating a premium-priced product such as Provenge."
For more ratings news on Dendreon click here and for the rating history of Dendreon click here.
Shares of Dendreon closed at $13.21 yesterday.
Canaccord analyst says, "We believe shares may have been over-sold following management retraction of 2011 Provenge sales guidance in the face of uncertain reimbursement headwinds."
"Key driver: Provenge commercial penetration in the metastatic castration-resistant prostate cancer market...Management acknowledged that the team failed to appreciate the reluctance of urology customers to adopt a "buy and bill" model incorporating a premium-priced product such as Provenge."
For more ratings news on Dendreon click here and for the rating history of Dendreon click here.
Shares of Dendreon closed at $13.21 yesterday.
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