Dendreon (DNDN -7.2%) nears its 52-week low after BofA downgrades shares to Underperform, and...

|About: Dendreon Corporation (DNDN)|By:, SA News Editor

Dendreon (DNDN -7.2%) nears its 52-week low after BofA downgrades shares to Underperform, and lowers its PT to $6 from $13. The firm expects Provenge sales to fall short of expectations for the next several quarters, keeping the business in the red, and that such a weak demand environment will limit the valuation an acquirer is willing to pay.