Dendreon shares Left for Dead?
There are the crazy price targets such as $18 by Maxim Group set in September and more reasonable $7 from Baird back in August. Going with BofA would represent a 44% increase to get back to $6 from today's price. Take a look at the crack price tp of $18, a 300%+ increase in the next 12 months...really?
|Ticker||Current Price||Target Price||% Increase|
Dendreon reports Q3 earnings at the end of the month on October 30th. Expect the stock to tread water until we hear something at that time. What could work for playing the conference call is a covered call on DNDN to protect your neck.
MASTERY Bottom line:
Provenge has a bunch of competition and when it costs $100K per patient, its not going to everyone who could really benefit from it.
Medivation (MDVN) and Astellas Pharma (ALPMY.PK) are getting ready to take on Provenge with their prostate cancer fighting drug Xtandi. There is room in the prostate cancer arena, these drugs are used at different stages of treating prostate cancer. Johnson & Johnson's (JNJ) Zytiga is also competing in this space as is Jevtana from Sanofi. The prostate cancer treatment field is getting crowded, its why DNDN has tanked to $4.
However Dendreon isn't dead yet. The stock can go lower but at $4 its worth a few bucks to go long.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Inverted Balance Sheets and Doubling the Financial Bet | Financial Sense
- Remembering The Currency Wars Of The 1920s & 1930s (And Central Banks' "Overused Bag Of Tricks") | ZeroHedge
- Pro-Separatist Rebels Launch Offensive On Ukraine City Of Mariupol, Where At Least 21 Die After Intense Shelling | ZeroHedge
- With Syriza Leading By 7 Points, Greek Incumbents Fear-Monger Looming "Toilet-Paper-Run" | ZeroHedge
- Friday Humor: Hitler Realizes He Was Short Swiss Francs | ZeroHedge
- ECB Preview: FAQ | Financial Sense
- Gold, Dollar "Disruption", And Central Banks' Miscalculated Insanity | ZeroHedge
The most relevant financial news and articles from the Internets
- Minnows Cambridge hold Man United in FA Cup | Business Insider
- Japan Calls The Apparent Death Of An ISIS Hostage '... | Business Insider
- Auschwitz: enduring testament to Nazi horrors | Business Insider
- The Best Laptops You Can Buy | Business Insider
- Ten Things Only Bad Managers Say | BusinessWeek
- Britain marks 50th anniversary of Churchill's death | Business Insider
- Danny Trejo Would Love To Reprise His 'Breaking Bad'... | Business Insider