JMP Securities Starts Seattle Genetics (SGEN) at Market Outperform

JMP Securities analyst Reni Benjamin initiates coverage on Seattle Genetics (NASDAQ: SGEN) with a Market Outperform rating and a price target of $185.00.

The analyst commented, "Seattle Genetics has effectively managed the life cycle of its first approved asset, Adcetris (brentuximab vedotin), gaining six approvals in various hematological malignancies and achieving over $1B in worldwide sales in 2019 with partner Takeda. While we believe the company has the potential to grow Adcetris sales by 55% by 2025, we see even greater potential in its more recently approved products Padcev (enfortumab vedotin-ejfv) and Tukysa (tucatinib), which could achieve combined risk-adjusted revenues of $3.7B by 2025. With a well-defined playbook used to move Adcetris across multiple lines of therapy, we are confident in the company’s ability to optimize the clinical and commercial opportunities of its expanding portfolio and drive shareholder value."

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 $158.40 yesterday.

You May Also Be Interested In

• Goldman Sachs Upgrades Plains GP Holdings, L.P (PAGP) to Neutral
• BTIG Upgrades Medtronic, Inc. (MDT) to Buy
• Abivax (ABVX) PT Lowered to $136 at Wolfe Research