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Dendreon (DNDN +19.8%) skyrockets to $7.49/share amidst rumors Sanofi (SNY) is looking to...
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Wednesday, June 13, 2012, 2:34 PM ETDendreon (DNDN +19.8%) skyrockets to $7.49/share amidst rumors Sanofi (SNY) is looking to acquire the company for $11/share. Also, Summer Street is starting coverage with a Buy and $18 PT, arguing the Street has "factored in an extremely bear-case scenario" amidst concerns about weaker-than-expected sales of its Provenge prostate cancer drug. It sees Provenge growth and a "turnaround led by new management" driving shares higher.
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