Analyst Ratings for Dendreon (DNDN) [Neutrals]

Overall Rating: NEUTRAL Rating Trend: Down

Avg. $ Target: $7.82 (+101%)

Date	Firm	Type	Rating (Past)	PT (Past)	Start $	End $	% Chg.	Details
3/6/2013	ISI Group	Downgrade	Neutral (Buy)	N/A (N/A)	5.70	3.89	-31.75%	Details
7/31/2012	JPMorgan	Downgrade	Neutral (Overweight)	N/A (N/A)	5.00	3.89	-22.2%	Details
7/31/2012	Deutsche Bank	Downgrade	Hold (Buy)	7.00 (N/A)	5.00	3.89	-22.2%	Details
5/8/2012	Leerink Swann	Downgrade	Market Perform (N/A)	13.00 (N/A)	10.10	3.89	-61.49%	Details
3/26/2012	Canaccord Genuity » Updated 7/31/2012	New Coverage	Hold (N/A)	6.00 (11.00)	10.05	3.89	-61.29%	Details
1/25/2012	Cantor Fitzgerald » Updated 1/30/2013	New Coverage	Hold (N/A)	7.00 (6.00)	13.97	3.89	-72.15%	Details
12/9/2011	Barclays » Updated 7/31/2012	New Coverage	Equalweight (N/A)	6.00 (13.00)	8.01	3.89	-51.44%	Details
11/3/2011	Goldman Sachs » Updated 2/28/2012	Downgrade	Neutral (N/A)	11.00 (N/A)	7.58	3.89	-48.68%	Details
8/8/2011	Citadel Securities	New Coverage	Neutral (N/A)	10.00 (N/A)	12.56	3.89	-69.03%	Details
8/4/2011	Gleacher & Co.	Downgrade	Neutral (N/A)	N/A (N/A)	14.40	3.89	-72.99%	Details
8/4/2011	Cowen	Downgrade	Neutral (N/A)	N/A (N/A)	14.40	3.89	-72.99%	Details
8/4/2011	RBC Capital » Updated 7/17/2012	Downgrade	Sector Perform (N/A)	8.50 (10.00)	14.40	3.89	-72.99%	Details
8/4/2011	Credit Suisse	Upgrade	Neutral (N/A)	22.00 (N/A)	14.40	3.89	-72.99%	Details
8/4/2011	Baird » Updated 8/29/2012	Downgrade	Neutral (N/A)	7.00 (N/A)	14.40	3.89	-72.99%	Details
8/4/2011	Collins Stewart » Updated 10/7/2011	Downgrade	Neutral (N/A)	15.00 (N/A)	14.40	3.89	-72.99%	Details

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