Baird Maintains a 'Neutral' on Dendreon (DNDN); Lowering Estimates & PT
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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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Baird maintains a 'Neutral' on Dendreon (NASDAQ: DNDN), price target lowered to $14.00.
Baird analyst says, "Lowering Provenge estimates and price target following less-than-stellar feedback from a large, recent oncologist survey. Despite DNDN's increasing emphasis on urologists, oncologists remain an important constituency with meaningful insight into demand post-capacity scale-up as well as competitive dynamics. When guidance was reset last month, we speculated longer-term demand-related issues may be at work. Feedback we highlight herein does little to assuage that concern. Remain more comfortable on the sidelines."
"We now model $66M, $78M and $391M for Q311, Q411 and FY12, respectively."
For more ratings news on Dendreon click here and for the rating history of Dendreon click here.
Shares of Dendreon closed at $11.89 yesterday.
Baird analyst says, "Lowering Provenge estimates and price target following less-than-stellar feedback from a large, recent oncologist survey. Despite DNDN's increasing emphasis on urologists, oncologists remain an important constituency with meaningful insight into demand post-capacity scale-up as well as competitive dynamics. When guidance was reset last month, we speculated longer-term demand-related issues may be at work. Feedback we highlight herein does little to assuage that concern. Remain more comfortable on the sidelines."
"We now model $66M, $78M and $391M for Q311, Q411 and FY12, respectively."
For more ratings news on Dendreon click here and for the rating history of Dendreon click here.
Shares of Dendreon closed at $11.89 yesterday.
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