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Stock Insights on Dendreon Corporation (NASDAQ:DNDN)

December 16
09:40 2014

[AccessWire] Dendreon Corporation (NASDAQ:DNDN) (TREND ANALYSIS), due to disappointing sales of its flagship Provenge prostate cancer vaccine, the future of cancer immunotherapy just got a bit cloudier. While Provenge itself will survive, Dendreon may end up going private in a debt restructuring deal.

But while it may look grim now, the fact remains that sales of Provenge will reach the $300M mark this year, a nice sum for any company from startup biotech to Big Pharma. It just wasn’t enough to overcome the debt incurred to develop it. Clearly then, there is a significant market for cancer vaccines. The trick is to develop the treatments at much cheaper cost.

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Taking a look at the company’s recent performance, Dendreon Corporation (DNDN) reported third quarter earnings for fiscal 2014 on November 10th. The company reported actual earnings per share of ($0.14) against the consensus Street estimate of ($0.10). Dendreon Corporation (DNDN) posted revenue of $73.1million against estimates of $78.72million.

Dendreon Corporation (NASDAQ:DNDN) is currently valued at $14.92 million and closed the last trading session at $0.13. The stock has a 50-day moving average of $0.94 and a 200-day moving average of $1.66.

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There are currently nine analysts that we track that cover the stock. Of those nine, one has a Buy rating six have a Hold rating and two have a sell rating. On a consensus basis this yields a score of 1.89 and a Hold. The combined price objective of these covering analysts is $1.58, which represents a 1115.38% upside difference to the last closing price.

The most recent analyst activity consisted of Roth Capital upgrading their neutral stance on the company. Roth Capital has a price target of $0.15. On the date of the report, the stock closed at $0.16.

Another research firm weighing in recently was Zacks who also upgraded their rating on the stock. On November 07th, Zacks upgraded their price target on the stock $1.00, or a 669.23% upside to the current price. On the day of the report, DNDN shares closed at $0.94.

Company Profile

Dendreon Corporation (NASDAQ:DNDN), a biotechnology company, focuses on the discovery, development, and commercialization of novel therapeutics to enhance cancer treatment options for patients. Its product portfolio includes active cellular immunotherapies and a small molecule product candidate that could be applicable to treating various types of cancers. The company offers PROVENGE, an autologous cellular immunotherapy for the treatment of asymptomatic or minimally symptomatic, metastatic, and castrate-resistant prostate cancer.

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Paul Cole

Paul Cole

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