Dendreon (DNDN) Shares Rocked Despite Strong Q4 Numbers
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Shares of Dendreon (Nasdaq: DNDN) are under heavy pressure early Monday despite reporting seemingly strong fourth quarter results.
This is being blamed on a 'buy-the-rumor, sell the news' Wall Street response and a lackluster first quarter outlook.
Dendreon said it sees Q1 sales growth slowing versus the growth witnessed in Q4, although analysts are saying this is not new news. In fact, ISI's Mark Schoenebaum said Q4 sales were inflated as $2-$3 million of Q1 sales were pulled forward.
Dendreon last traded at $12.47, down 16 percent from Friday's close. Still the stock is up 64 percent since the start of the year.
This is being blamed on a 'buy-the-rumor, sell the news' Wall Street response and a lackluster first quarter outlook.
Dendreon said it sees Q1 sales growth slowing versus the growth witnessed in Q4, although analysts are saying this is not new news. In fact, ISI's Mark Schoenebaum said Q4 sales were inflated as $2-$3 million of Q1 sales were pulled forward.
Dendreon last traded at $12.47, down 16 percent from Friday's close. Still the stock is up 64 percent since the start of the year.
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