JMP keeps Dendreon at strong buy

Dendreon Corp. was reiterated at a strong buy rating and $12 price target by JMP Securities analyst Charles C. Duncan. The company reported second-quarter results that were better than expectations with revenues of $78,000 compared with JMP estimates of $57,000 and net loss of $0.26 per share compared with the analyst and consensus projections of $0.33 and $0.37 per share, respectively. JMP raised its full-year total revenue estimates from to $217,000, from $196,000, and lowered its net loss forecast to $1.22, from $1.42 per share. Shares of the Seattle, Wash.-based biotechnology company were down 23cents, or 5.28%, at $4.13, on volume of 777,890 shares versus the three-month running average of 896,548 shares. (Nasdaq: DNDN)

Lifecore Biomedical reiterated at strong buy by JMP

JMP Securities analyst Anthony Ostrea reiterated Lifecore Biomedical, Inc. at a strong buy rating and an $18 price target. The analyst believes the stock is not reflecting the strong secular growth in dental implants (represents 67% of revenue) or the increasing penetration of the higher-priced Prima. JMP expects the fourth-quarter 2006 financials to be in line with consensus estimates. JMP anticipates total revenue of $17.2 million (consensus at $17.5 million) and earnings per share of $0.16 (consensus at $0.17). Shares of the Chaska, Minn.-based medical device company were up 96 cents, or 6.16%, at $14.83, on volume of 43,594 shares versus the three-month running average of 41,104 shares. (Nasdaq: LCBM)

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