Traders Buying Dendreon (DNDN) Shares Ahead of Provenge Coverage Determination
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Price: $0.13 --0%
Rating Summary:
2 Buy, 15 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 13 | New: 29
Rating Summary:
2 Buy, 15 Hold, 9 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 13 | New: 29
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Shares of Dendreon (Nasdaq: DNDN) are currently up nearly 4 percent following some bullish comments on the company's Provenge from analysts at both JPMorgan and RBC Capital.
A JPMorgan conference call to discuss the Dendreon product has just begun (11am ET).
JPMorgan believes National Coverage Analysis will support Provenge based on current labeling as the drug has shown overall survival benefit in castrate resistant prostate cancer. The firm says this decision is expected on March 30th.
Elsewhere on the Street, RBC suggests Dendreon's Provenge could become at least a $1 billion drug. The firm sees a 15-20% chance that National Coverage Analysis will not offer a coverage determination at this time.
JPMorgan maintains an Overweight rating and $66 price target on Dendreon shares, while RBC maintains an Outperform and $50 price target.
To track all the market-moving analyst action on shares of Dendreon, visit our Analyst Ratings page.
A JPMorgan conference call to discuss the Dendreon product has just begun (11am ET).
JPMorgan believes National Coverage Analysis will support Provenge based on current labeling as the drug has shown overall survival benefit in castrate resistant prostate cancer. The firm says this decision is expected on March 30th.
Elsewhere on the Street, RBC suggests Dendreon's Provenge could become at least a $1 billion drug. The firm sees a 15-20% chance that National Coverage Analysis will not offer a coverage determination at this time.
JPMorgan maintains an Overweight rating and $66 price target on Dendreon shares, while RBC maintains an Outperform and $50 price target.
To track all the market-moving analyst action on shares of Dendreon, visit our Analyst Ratings page.
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