Citi Discusses New Dendreon Plant

Citi Investment Research has a Hold rating and a $36 price target on shares of Dendreon DNDN. In the research note, Citi Investment Research writes, "Dendreon's LA manufacturing facility was approved. This facility houses 36 workstations and can generate between $375-$750M in sales. With this facility approved, the company now has the capacity to generate $875-$1,750M in sales (between NJ and LA). Approval of their Atlanta facility (which is the same size as LA) is expected by August 28." Shares of DNDN are up 80 cents in pre-market trading to $41.30, a gain of nearly 2%.