Dendreon (DNDN) Sees Continued Upside On 'Table-Pounding' Analyst Comments

Dendreon Corp. (Nasdaq: DNDN) investors are blowing off last week's 10.7 million secondary offering, which priced at $19.20, and the recent flurry of insider selling, and buying the stock hand-over-fist again today.

Shares of DNDN are up 7.8% today to $20.72, after trading lower 5 of the last 7 trading sessions since its 94% run-up on 4/29 following the PROVENGE approval.

One reason for the action could be some table-pounding comments by bullish DNDN analysts. One such analyst, Mark Monane of Needham, was highlighted on Bloomberg Radio this weekend. Monane sees a huge opportunity for PROVENGE and said it is a "game changer. Monane said PROVENGE offers patients benefit with little side-effects. Monane sees $1.5-$2 billion in annual sales in the long-run for PROVENGE. He has a Buy rating and 'Street High' $38 price target on DNDN.

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