Analysts: Dendreon Seeks a Buyer and 3 More Research Notes to Look Through
Dendreon Corp. (NASDAQ:DNDN): Maxim upgraded Dendreon to Buy from Hold and raised its price target for the shares to $10 from $3 after Bloomberg reported late Friday that the company is seeking a buyer. The firm believes that Provenge is a viable asset and thinks Dendreon could be worth $10 per share in a buyout.
Aeropostale Inc. (NYSE:ARO): Susquehanna believes Aeropostale provides a compelling risk/reward profile based on the belief that the company can sell fashion, expectations that OPM expansion is a possibility, and the management’s cost reduction strategy. Shares of Aeropostale are Positive rated, but the firm has lowered the price target on the stock to $13 from $15.
Synta Pharmaceuticals (NASDAQ:SNTA): Roth Capital increased its price target on shares of Synta to $27 from $20, believing that the survival data for a trial of Synta’s cancer treatment ganetespib is positive; following the data, Roth has increased confidence in an ongoing trial of the drug, and the firm believes the company has attractive potential partnering opportunities moving forward; the firm reiterates a Buy rating on the shares.
Bristol-Myers Squibb Co. (NYSE:BMY): Morgan Stanley upgraded Bristol-Myers to Overweight from Equal Weight following the release of Friday’s impressive Nivolumab data; the firm believes Bristol’s immuno-oncology treatment could rival the biggest cancer drugs in the world, and raised its 2020 immuno-oncology revenue to $10.6 billion from $7.9 billion. The firm raised its price target on the shares to $60 from $45.
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