Canaccord Genuity Reiterates a 'Sell' on Seattle Genetics (SGEN); Adcetris ODAC Panel Preview
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Price: $228.74 --0%
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Sell' on Seattle Genetics (NASDAQ: SGEN), PT $10.
Canaccord analyst, George Farmer, said, "Steep valuation and high probability of Adcetris ODAC endorsement/FDA BLA approvals set up for a highly unattractive risk/reward, in our view. We recommend selling SGEN shares ahead of the expected July 12 briefing document release and into the July 14 ODAC meeting."
"Briefing document scrutiny ahead of ODAC Adcetris BLA filing discussion for
relapsed/refractory (r/r) Hodgkin’s (HL) and anaplastic large cell lymphoma
(ALCL) is expected to support FDA approvals by the August 30 PDUFA. Clinical data presented so far establishes solid efficacy, which we believe is widely accepted. Unforeseen surprises could put significant pressure on shares, in our view."
For more ratings news on Seattle Genetics click here and for the rating history of Seattle Genetics click here.
Shares of Seattle Genetics closed at $21.08 yesterday.
Canaccord analyst, George Farmer, said, "Steep valuation and high probability of Adcetris ODAC endorsement/FDA BLA approvals set up for a highly unattractive risk/reward, in our view. We recommend selling SGEN shares ahead of the expected July 12 briefing document release and into the July 14 ODAC meeting."
"Briefing document scrutiny ahead of ODAC Adcetris BLA filing discussion for
relapsed/refractory (r/r) Hodgkin’s (HL) and anaplastic large cell lymphoma
(ALCL) is expected to support FDA approvals by the August 30 PDUFA. Clinical data presented so far establishes solid efficacy, which we believe is widely accepted. Unforeseen surprises could put significant pressure on shares, in our view."
For more ratings news on Seattle Genetics click here and for the rating history of Seattle Genetics click here.
Shares of Seattle Genetics closed at $21.08 yesterday.
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