Cantor Fitzgerald Maintains a 'Hold' on Dendreon (DNDN); Near Term Not Pretty
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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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Cantor Fitzgerald maintains a 'Hold' on Dendreon (NASDAQ: DNDN), adjusts price target to $6.00.
Analyst, Mara Goldstein, said, "We are updating our model to reflect 2Q:12 EPS and our new assumptions for Provenge. We include the positive impact of restructuring and uncertain market dynamics for Provenge near term. We have also chosen to push out our Provenge revenues in Europe to 2015. This is based on our overall conservative assessment for the territory...Near-Term Cost Cuts Positive but Lowering Longer Term...Our model now reflects non-GAAP (excluding stock option expense) EPS of ($1.44) for this year and ($0.33) for next year. This reflects the impact of restructuring near term. Our longer term EPS forecast is now $0.90 vs. our previous forecast of $1.25 and reflects overall lower Provenge sales in the U.S. and a later E.U. launch than we had previously forecasted."
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 $4.98 yesterday.
Analyst, Mara Goldstein, said, "We are updating our model to reflect 2Q:12 EPS and our new assumptions for Provenge. We include the positive impact of restructuring and uncertain market dynamics for Provenge near term. We have also chosen to push out our Provenge revenues in Europe to 2015. This is based on our overall conservative assessment for the territory...Near-Term Cost Cuts Positive but Lowering Longer Term...Our model now reflects non-GAAP (excluding stock option expense) EPS of ($1.44) for this year and ($0.33) for next year. This reflects the impact of restructuring near term. Our longer term EPS forecast is now $0.90 vs. our previous forecast of $1.25 and reflects overall lower Provenge sales in the U.S. and a later E.U. launch than we had previously forecasted."
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 $4.98 yesterday.
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