Canaccord Genuity Maintains a 'Sell' on Seattle Genetics (SGEN); Profile Shift Expected to Weigh on Shares
Tweet
Share
E-mailGet Alerts SGEN Hot Sheet
Price: $228.74 --0%
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Join SI Premium – FREE
Canaccord Genuity maintains a 'Sell' on Seattle Genetics (NASDAQ: SGEN), PT $10.
Canaccord analyst, George Farmer, says, "We view share weakness as a consequence of perceived regulatory complications, topped valuation, and sentiment shift. We remain sellers of SGEN stock."
"We expect continued pressure on shares as the SGEN investment theme transitions from regulatory to commercial. Among Bexxar, Zevalin, Ontak, Targretin, Campath, Zolinza, Folotyn, and Istodax – all examples of r/r hemeonc drugs such as Adcetris – none have ever made a meaningful commercial impact, highlighting lack of precedent for a successful Adcetris launch."
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 $17.90 yesterday.
Canaccord analyst, George Farmer, says, "We view share weakness as a consequence of perceived regulatory complications, topped valuation, and sentiment shift. We remain sellers of SGEN stock."
"We expect continued pressure on shares as the SGEN investment theme transitions from regulatory to commercial. Among Bexxar, Zevalin, Ontak, Targretin, Campath, Zolinza, Folotyn, and Istodax – all examples of r/r hemeonc drugs such as Adcetris – none have ever made a meaningful commercial impact, highlighting lack of precedent for a successful Adcetris launch."
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 $17.90 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Emkay Global Starts Urban Company (URBANCO:IN) at Buy (1)
- Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson
- Kotak Upgrades Narayana Hrudayalaya Ltd (NARH:IN) to Buy (1)
Create E-mail Alert Related Categories
Analyst CommentsSign 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!
