Canaccord Genuity Maintains a 'Buy' on Dendreon (DNDN); Provenge Sales Struggle
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Price: $0.13 --0%
Rating Summary:
2 Buy, 15 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
Rating Summary:
2 Buy, 15 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 20
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Canaccord Genuity maintains a 'Buy' on Dendreon (NASDAQ: DNDN) price target lowered from $19 to $13.
Canaccord analyst, George Farmer, said, "Our 2011 and 2012 loss per share estimates increase to ($3.13) and ($1.47), from ($2.75) and ($1.46), and are also affected by much worse gross margin assumptions than previously modeled. Helpful guidance was not provided on how to gauge going forward, in our view, which could weigh on the stock. Valuation: Our new $13 (from $19) is based on a DCF. Risks include changes in competitive landscapes and reimbursement challenges. revenues increase from $97M to $105M due to Genotek sales, but partially offset by Drugs of Abuse, and Insurance risk declines. Our EPS estimate declines to ($0.23) from $0.09 as HIV-OTC spend begins to ramp."
For more ratings news on Dendreon click here and for the rating history of Dendreon click here.
Shares of Dendreon closed at $10.46 yesterday.
Canaccord analyst, George Farmer, said, "Our 2011 and 2012 loss per share estimates increase to ($3.13) and ($1.47), from ($2.75) and ($1.46), and are also affected by much worse gross margin assumptions than previously modeled. Helpful guidance was not provided on how to gauge going forward, in our view, which could weigh on the stock. Valuation: Our new $13 (from $19) is based on a DCF. Risks include changes in competitive landscapes and reimbursement challenges. revenues increase from $97M to $105M due to Genotek sales, but partially offset by Drugs of Abuse, and Insurance risk declines. Our EPS estimate declines to ($0.23) from $0.09 as HIV-OTC spend begins to ramp."
For more ratings news on Dendreon click here and for the rating history of Dendreon click here.
Shares of Dendreon closed at $10.46 yesterday.
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