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William Blair is cutting its price target to $4 from $5 on Dendreon (DNDN -5.2%) after Friday's...

William Blair is cutting its price target to $4 from $5 on Dendreon (DNDN -5.2%) after Friday's Q3 showed Provenge sales missing expectations. The firm says sales of the drug are likely to remain challenged over the near term, and keeps an Underperform rating on the stock. CFO Doug Schiffman acknowledged in the company's earning call on Friday that the drug has faced some marketing challenges over the past quarter due in part to the departure of some key sales personnel in many of its key markets. (Transcript)
Comments (2)
  • Dendreon's CFO is GREG Schiffman.
    5 Nov 2012, 12:19 PM Reply Like
  • The problems in the marketing department were resolved many months ago. The department is under new (experienced) leadership, was completely restructured, tand the staff stabalized. There's every reason to believe John Johnson, the president brought in by the BOD in January 2012, is executing a viable plan to turn the company around.
    20 Dec 2012, 12:12 PM Reply Like
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