Needham & Company Assumes Coverage on Seattle Genetics (SGEN) at Buy; 3Q11 Review and ASH Meeting Preview
- With U.S. Fed Taking Foot Off the Pedal, BoJ and Japan's Pension Fund Accelerate
- ExxonMobil (XOM) Tops Q3 EPS by 18c
- AbbVie (ABBV) Tops Q3 EPS by 12c
- Pre-Open Stock Movers 10/31: (MELI) (GPRO) (SRPT) (LNKD) Higher; (AEGR) (TPX) (TRMB) (SBUX) Lower (more...)
- Omega Healthcare Investors (OHI) to Acquire Aviv REIT (AVIV) in $3B Deal
Needham & Company assumes coverage on Seattle Genetics (NASDAQ: SGEN) with a Buy. PT $20.00.
Needham analyst says, "Adcetris was launched late August and generated $10M in 3Q11 sales. The drug is marketed under accelerated FDA approval for a limited subset of the Hodgkin’s lymphoma (HL) and Anaplastic Large Cell Lymphoma (ALCL) patient populations. We anticipate rapid penetration in these indications, but note modest sales potential in the near-term due to the small number of patients involved. Because of the drug’s generally impressive efficacy/safety profile to date, we believe the long-term prospects are more favorable with an opportunity for a move to retreatment and front-line settings as well as expansion to other CD30+ tumors."
"Our 4Q11 and 2012 Adcetris U.S. sales estimates are $15M and $74M. Our 4Q11, 2011, and 2012 EPS estimates are $(0.36), $(1.46), and $(1.19)."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cantor Fitzgerald Upgrades Seattle Genetics (SGEN) to Hold
- UPDATE: Roth Capital Starts Daqo New Energy (DQ) at Buy
- UPDATE: UBS Upgrades MPLX LP (MPLX) to Buy
Create E-mail Alert Related CategoriesNew Coverage
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!