Needham & Company Assumes Coverage on Seattle Genetics (SGEN) at Buy; 3Q11 Review and ASH Meeting Preview
- Wall St. loses ground on growth fears, oil slide
- Exclusive: Pfizer approaches Medivation about potential takeover - sources
- Unusual 11 Mid-Day Movers 5/3: (ECTE) (RYAM) (AXTI) Higher; (CUR) (ONDK) (WAC) Lower
- Zillow Group, Inc. (ZG) Misses Q1 EPS by 4c, Sales Beat; Issues Sales Guidance Above the Street
- After-Hours Stock Movers 05/03: (GKOS) (ETSY) (NTRI) (MDVN) Higher; (CRAY) (SYRG) (GLUU) (RLYP) Lower (more...)
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
- Needham & Company Raises Price Target on Integrated Device Technology (IDTI) Following 4Q
- Simmons Raises Price Target as Diamond Offshore Drilling (DO) Exceeds 1Q Expectations
- K2M Group's (KTWO) International Weakness Is Frustrating but Transient - Piper Jaffray
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!