RBC Capital Reiterates Outperform Rating on Seattle Genetics (SGEN); KN-204 Data a 'Non-Event'

RBC Capital analyst Kennen MacKay reiterated an Outperform rating and $87.00 price target on Seattle Genetics (NASDAQ: SGEN), saying they see Merck's KN-204 adding headline risk but a "non-event."

"Our analysis suggest downside impact of -$5/sh if KEYNOTE-204 favors Keytruda or -$10/sh if we fully remove rrHL sales from our Adcetris ests," the analyst commented.

For an analyst ratings summary and ratings history on Seattle Genetics click here. For more ratings news on Seattle Genetics click here.

Shares of Seattle Genetics closed at $70.96 yesterday.

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