Dendreon Corporation(NASDAQ:DNDN) Sees Revised Ratings


Dallas, Texas 03/10/2014 (FINANCIALSTRENDS) – Dendreon Corporation(NASDAQ:DNDN) has just received reaffirmation of ratings by analysts over the past week. The reason for the recent spate of analyst notes has been sequential performance improvement. Besides the sales growth for the company’s cancer treating medicine- Provenge is also considered as one of the continued growth reasons for the company. The approval of Provenge among adults, in the European Union, has been the first and foremost growth sales promoters, thus far. However, the downside for the company is the lack of pipeline for the company. The increased dependence on Provenge is also an accepted feature for the investor focus, according to analysts.

Dendreon Corporation(NASDAQ:DNDN) saw the action and follow-up by these financial experts due to announcement of its quarterly earnings data, last week. The company has reported that the earnings per share are $0.17. The stock prices have been successful in beating the consensus estimate, fixed at $0.37 by $0.20. The revenue growth for the company has been $74.80 million for the quarter. The consensus estimate for the same has been reportedly at $73.59 million.

Dendreon Corporation(NASDAQ:DNDN) during the same quarter, for the previous year, reported $0.30 earnings per share fall. The revenue for the quarter was reportedly much lesser than the 8.3% it had reported on the year-by-year basis. The company, on an average also predicted that it will post more than $0.97 earnings per share for this financial year.

The firms which have a rating for this company include – CRT Capital which gives a fair rating value and a price target of $3.00 for the stock. Other analysts who are working on this stock include the Sanford C. Bernstein downgrade. The outperform rating was moved to a market perform rating by this analyst. The price target too has been revised to $3.30 which is much lesser by $.4.30. The analysts at Thomson Reuters too upgraded the shares indicate a sell rating, instead of a hold rating.