Dendreon (DNDN), which makes a treatment for prostate cancer, has been rising sharply in the past three days after preannouncing better than expected fourth quarter revenue . The company also announced that sales of its prostate cancer therapy Provenge have been growing.
In the past three days the stock is up more than 80%, including a 12% bump this afternoon.
That said, not everyone is convinced about the company’s potential.
“Despite encouraging growth in the fourth quarter and a potential upswing in early 2012, we continue to be concerned with Provenge’s eventual potential and profitability, and believe the surge in the stock today based on the fourth-quarter preannouncement is unjustified,” wrote William Blair analyst Y. Katherine Xu.
No comments:
Post a Comment