.RBC Capital Starts Dendreon (DNDN) at Outperform, $50 Price Target
4:46 pm ET 09/20/2010- StreetInsider
RBC Capital'sMichael Yee has initiated coverage (in the after-hours session) on shares of Dendreon (Nasdaq: DNDN). The analyst rates the stock an Outperform and sets a $50 price target on DNDN shares.
With shares of Dendreon closing at $42.30 today, RBC's new price target implies potential upside of about 18%
This is the beginning of a gradual rise to the previous high of $57 a year ago or so. The Medicare result / decision may be out in October and a partnership by before the year's end ......... there is just pure good news for all longs.
Yes,you're right about DNDN going back to 57.00,just like when the FDA approved on the end of April.
IMO,it will see those old highs and fly right past it.I say it happens BEFORE Santa comes to town.
The pipeline is so far down the line that not only is not "the key" to anything but, at this point, is totally irrelevant.
As irrelevant and baseless as that $50.00 target of this new anal-yst.
DNDN's stock price will be determined by execution in the marketing and sales of Provenge for years to come. 12 stations are online. Ten times that many will be fully operational and online by this time next year (approximately) and 2012 will be the first full fiscal year with manufacturing at full capacity and potential sales of 2.5 BILLION plus.
Those are the FACTS and FIGURES. The rest is wild speculation, wishful thinking and pipe dreams, nothing else.
As for possible bumps on the road or clouds in the sky, many possible along the way, starting with costs and associated packages of compensation that ever so frivolously Mitch Gold signs for others and himself, the closest one, and, the most significant one, the competition down the road. Europe, Japan, ROW are, for years to come, only speculation.
Based on projected sales, the $50.00 target price seems absurdly minimal, but it is not as important what you make as it is what you keep, so it could be minimal or it could be even exaggerated if Gold and his boys keep awarding the bulk of what is made to themselves or Johnny-come-lately friends such a Ian Clark.