Baird Maintains a 'Neutral' on Dendreon (DNDN); Provenge Inflection Point Still Lacking
Tweet
Share
E-mailGet Alerts DNDN Hot Sheet
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
Join SI Premium – FREE
Baird maintains a 'Neutral' on Dendreon (NASDAQ: DNDN) price target lowered $1 to $14.
Baird analyst says, "This morning's call provides what we see as ample justification for our cautious stance on DNDN. With disclosure that $2-3M of Q411 Provenge revenue was pulled forward from January (inferring Q411 actually missed RWB estimate) and guidance for a substantial Q112 deceleration, we continue to like our stance on the sidelines. All things equal, in order for us to get more constructive on the stock, we would need to see tangible evidence of an inflection point in Provenge account penetration."
"We continue to model Q112 US Provenge revenue of $80.5M (+4.6% Q-Q); and FY12-FY15 revenue of $355M, $470M, $652M and $797M, respectively." (However, Baird does lower FY12 EPS loss estimate from $2.22 to $2.43)
For an analyst ratings summary and ratings history on Dendreon click here. For more ratings news on Dendreon click here.
Shares of Dendreon closed at $14.86 yesterday.
Baird analyst says, "This morning's call provides what we see as ample justification for our cautious stance on DNDN. With disclosure that $2-3M of Q411 Provenge revenue was pulled forward from January (inferring Q411 actually missed RWB estimate) and guidance for a substantial Q112 deceleration, we continue to like our stance on the sidelines. All things equal, in order for us to get more constructive on the stock, we would need to see tangible evidence of an inflection point in Provenge account penetration."
"We continue to model Q112 US Provenge revenue of $80.5M (+4.6% Q-Q); and FY12-FY15 revenue of $355M, $470M, $652M and $797M, respectively." (However, Baird does lower FY12 EPS loss estimate from $2.22 to $2.43)
For an analyst ratings summary and ratings history on Dendreon click here. For more ratings news on Dendreon click here.
Shares of Dendreon closed at $14.86 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Robert W BairdSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
