4 Healthcare Stock Stories for Midweek Investment Wellness
Dendreon Corp. (NASDAQ:DNDN): Closing price $2.79
On Wednesday morning, analyst Michael Yee at RBC Capital released a note on shares of Dendreon, suggesting his “best and easiest” solution for the company. Yee opined that a Dendreon sale price would likely not be far higher than its present price and thinks that the company’s fairly high enterprise value would likely be the reason for the situation.
The analyst posited a 70-percent likelihood that Dendreon shares will stay at current levels or fall notably lower to $1 long term. Beyond that, Yee placed a 30 percent-chance that Dendreon could announce a partnership within Europe or sell assets, driving shares into the $3 to $4 range. He maintains a Sector Perform on Dendreon and reduced his price target from $5 to $3.