Decliners Recap: Dendreon Corporation (NASDAQ:DNDN) Down 10.21%, Hansen Medical, Inc. (NASDAQ:HNSN) Down 10.45%
Northern, WI 05/09/2013 (GDPInsider) – Dendreon Corporation (NASDAQ:DNDN) started today’s trading session at 4.38 and is now trading down 10.21%. The stock has a range of 3.95 and 4.40 with a volume of 12.03 million. DNDN has shown slight upticks in trading since the start of May 2013 but is still far off from the highs recorded in February. The stock is down 54.60% on its 52-week high of 9.34 but up 3.69% on its 52-week low of 3.69. Analysts have set a target price of 6.17 and the stock has a RSI of 34.17, suggesting of course, that DNDN is creeping close to being oversold.
Investors were greeted with less than sobering numbers when DNDN released its Q1 fiscal earnings figures. Revenue fell 18% to $67.6 million and the company had a net loss of $72 million for the quarter. CEO and President John Johnson summed up the dismal performance this way: “I am not satisfied with these results.”
The company will be banking heavily on the new trial sequencing of its drug, Provenge. This is expected to begin at the start of quarter four 2013.
Is DNDN a solid investment at these levels? Get exclusive data and trends here.
Hansen Medical, Inc. (NASDAQ:HNSN) is down 10.45% having started the days trading at 1.92. The stock closed previous at 2.01 and has a range of 1.76 and 2.00 with volume of 950.52K. The stock has been downgraded by several analysts and investors seemed to have taken the cue.
Hansen Medical is coming off the release of its earnings for the first fiscal quarter of 2013. Adjusted EPS decreased to $-0.26 a share, a $-0.06 drop from the $-0.20 recorded in the quarter earlier. Revenues were down 36.56% and the loss recorded missed Wall Street’s estimate.
President and Chief Executive Officer, Bruce Barclay sought to add some optimism to the numbers and assuage investor fears with a positive outlook. “In a little over two quarters, the Company has gone from having just one installed clinical Magellan Robotic System to nine total clinical installations that are involved in treating patients and generating data,” said Barclay during the earnings call.
HNSN is down 9.44% on its SMA20 and 11.82% on its SMA50. The stock has a RSI of 36.67 and analysts have set a target price for the stock at 2.88.
Should Investors Trade HNSN Now? Get exclusive insights and updates here.
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