Berenberg Starts Seattle Genetics (SGEN) at Buy

Berenberg analyst Shanshan Xu initiates coverage on Seattle Genetics (NASDAQ: SGEN) with a Buy rating and a price target of $95.00.

The analyst comments "We think further appreciation in the shares will be tied to the pipeline, and identify several assets we think are undervalued at current levels: tucatinib (HER-2 tyrosine kinase inhibitor) in Phase III development for breast cancer, and enfortumab vedotin (an ADC) in Phase III development for urothelial carcinoma."

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 $75.29 yesterday.

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