Needham & Company Assumes Coverage on Seattle Genetics (SGEN) at Buy; 3Q11 Review and ASH Meeting Preview
- Wall Street flat as investors look for clues on rates
- Agrium (AGU), PotashCorp (POT) Said in Merger Talks
- Apple (AAPL) Determined to Receive Up to EUR13 Billion in Undue Irish Tax Breaks - EC
- Mondelez Int'l (MDLZ) Ends Merger Talks with Hershey (HSY)
- Oil falls as dollar rallies again; storm fears limit downside
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
- Oclaro (OCLR): Needham Raises PT After Company Visit
- Seaport Global Securities Resumes Jones Energy (JONE) at Accumulate
- Wells Fargo Starts ONE Gas Inc. (OGS) at Market Perform
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!