NEW YORK (TheStreet) -- Shares of Dendreon Corp. (DNDN) are down -6.73% to $1.94, still reeling after the biotechnology company reported 2014 first quarter results yesterday that showed net product revenue for the quarter was $68.8 million compared to $67.6 million in the first quarter of 2013.
Net loss in the quarter was $36.4 million, or 24 cents, compared to a net loss of $72.0 million, or 48 cents per share for the same period in 2013.
The company has been downgraded at several firms recently.
Maxim Group downgraded the company to "hold" from "buy," and set a $1 price target on shares. Roth Capital cut their price target on the shares to $1.00 from $2.60. Previously, Zacks reiterated a "neutral" rating with a $2.75 price target.
The company continues to face a significant debt issue.
TheStreet Ratings team rates DENDREON CORP as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DENDREON CORP (DNDN) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and generally disappointing historical performance in the stock itself."