Needham & Company Assumes Coverage on Seattle Genetics (SGEN) at Buy; 3Q11 Review and ASH Meeting Preview
- Market Wrap: Shire Makes Bid for Baxalta, Gets Rejected; Fed's Lockhart Hints at Sept. Rate Hike; Splitsville for RR Donnelley
- Disney (DIS) Tops Q3 EPS by 3c
- China Worries, Technical Damage Weigh on Apple (AAPL)
- Activision Blizzard (ATVI) Tops Q2 EPS by 5c, Revenue Beats, Offers Guidance
- After-Hours Stock Movers 08/04: (USNA) (CHUY) (Z) Higher; (ETSY) (TRMB) (GLUU) (DIS) 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
- 3D Systems (DDD) Hovers Near Oversold Territory Following Analyst Price Target Cut
- Needham & Company Starts Viavi Solutions (VIAV) at Hold
- Car Talk Selects BestRide as Web Content Partner
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!