RBC Capital Negative on Dendreon (DNDN) Ahead of Q2 Results

RBC Capital issued some cautious comments on Dendreon (NASDAQ: DNDN) ahead of second quarter results. The firm expects Provenge will likely miss Q2 sales estimates and said the company should close its Atlanta operations to cut expenses.

Off label use of J&J's (NYSE: JNJ) Zytiga will hurt Provenge sales, the firm said.

RBC maintained a Sector Perform rating and cut their price target from $10.00 to $8.50.

Dendreon is scheduled to report results on Monday, July 30, 2012, after the market closes.

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 $6.48 yesterday.

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