Analyst Gives Thumbs Up For Dendreon (DNDN)

June 10, 2009 · Filed Under Cancer, dendreon 

We are seeing another round of interest in Dendreon Corp. (NASDAQ: DNDN) this morning on yet another positive analyst call.  Citigroup initiated coverage of the PROVENGE owner and maker with a BUY rating and a $35 price target.

Citi believes that the upside for PROVENGE could be another blockbuster based on strong demand.  There are just no other successful treatments that extend life in metastatic prostate cancer treatment regimes.

If you recall, we saw a similar report last week when Deutsche Bank also started it with a BUY rating and $36 target.

Shares closed at $25.61 yesterday, and at 8:30 AM EST we have seen 45,000 shares trade hands.  The last price seen was $26.40.  As a reminder, the 52-week high is $27.40 and the high close is $25.74.

JON C. OGG
JUNE 10, 2009

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