Historically, tumultuous times offer some of the best opportunities to buy stocks, and the market's recent mess surely qualifies. And while the price of biotech Dendreon (NASDAQ:DNDN) is already up about 450% this year, some investors think the stock still has room to run.

In our Motley Fool CAPS community, nearly 78% of the 1,415 investors rating the company are bullish, so there's no shortage of reasons why Dendreon will thrive, three of which I've highlighted below.

But here at the Fool, we're all for looking at both the good and the bad sides of an investment. Once you're done with this article, you can read the case against the stock, weigh in with your comments, or rate Dendreon yourself in CAPS.

1. Provenge
Many investors are betting that cancer drug Provenge will get approval from the Food and Drug Administration by the expected decision date in May, and expect it to reach blockbuster status once production ramps up. The drug appears to be more effective than sanofi-aventis' (NYSE:SNY) Taxotere and could fetch a high price, like other cancer drugs from Genentech, Eli Lilly (NYSE:LLY), and Bristol-Myers Squibb (NYSE:BMY), reaching up to $2.5 billion in annual sales, according to some estimates.

2. Building a cash machine
Dendreon is charging forward with moves to become a pharmaceutical company with a marketable drug -- it's raising cash, building new facilities, and beefing up its marketing. While companies like Onyx Pharmaceuticals (NASDAQ:ONXX), Amylin Pharmaceuticals (NASDAQ:AMLN), and Elan (NYSE:ELN) have marketing partners for their major drugs, some investors like the additional value that comes with Dendreon because it doesn't have one, at least for the U.S.

3. More than a one-trick pony
It's also important to point out that Dendreon is not hanging its future on just one treatment. In addition to Provenge, CAPS members like the additional technologies and drugs that Dendreon is developing to fight other types of cancer. It has other active cellular immunotherapies in early stage clinical trials that some see as having the potential to add significant value.

To see details of what CAPS members are saying now about Dendreon, just click on over to Motley Fool CAPS and have a look -- or add your own thoughts directly to this story in the comments box below.

Always looking ahead, Motley Fool Rule Breakers has already recommended several biotechs with big potential. To see what rule-breaking stocks David Gardner is recommending today, take a free 30-day trial.

Fool contributor Dave Mock has three new reasons to love eggnog even more than before. He doesn't own shares of companies mentioned here. Elan is a Rule Breakers recommendation. The Fool's disclosure policy is filling in for a flu-struck Santa at the mall this year.