Rodman & Renshaw Reiterates Dendreon Market Outperform, $63 PT

Rodman & Renshaw reiterated its Dendreon DNDN Market Outperform rating and $63 price target in a research report published today. In the report, Rodman & Renshaw states, "Although near-term volatility is inevitable, we believe that long-term, the demand for Provenge will outstrip supply. In our opinion, shares of Dendreon should continue to climb higher as quarterly sales updates meet or beat expectations and speculation surrounding a potential take out of the company continues." Shares of Dendreon were trading at $39.62 at the time of posting, down 2.18% from Wednesday's market close.