J.P. Morgan Reiterates Overweight Rating On Dendreon

According to J.P. Morgan, Dendreon DNDN Overweight rating is reiterated. J.P. Morgan said that it reiterates its OW rating on DNDN and are providing follow-up thoughts post the company's 1Q conference call. “See our earlier Quick Take for our initial thoughts on quarterly performance. Overall, DNDN continues to provide guide points that indicate favorable progress (2Q off to a good start, trajectory of adding treatment sites on track) that keep us comfortable with year-end guidance. Indeed, we are encouraged that DNDN remains on track to treat the 2,000th patient by the end of July. By our modeling, it would be difficult for Provenge not to at least meet, if not beat, 2011 guidance if new patient starts continue on the same trajectory.” Dendreon closed yesterday at $42.81.