Dendreon Gets Mixed Analyst Take (DNDN)
A smaller broker dealer has come out with a positive, yet cautious, note on Dendreon Corp. (NASDAQ: DNDN) in new coverage this morning. Morgan Joseph has initiated the maker of PROVENGE for prostate cancer with a “Hold” rating in new coverage. The firm believes that Dendreon can become a leader in therapeutic vaccines for the prostate, so there is a positive nature and positive outlook. But as for the valuations, Morgan Joseph has said it would try to wait to see if you can get a better price.
Dendreon shares closed at $25.49 yesterday. So far we are seeing shares indicated firm, but the 52-week trading range is $2.55 to $27.40. Shares have had a hard time getting much higher and staying much higher than this $25.00 to $27.00 range. Most trading days over the last 75 days have seen a $20.00 to $25.00 range, yet the range has been slightly higher in the more recent days.
JOn C. Ogg
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