Canaccord Genuity Maintains a 'Sell' on Seattle Genetics (SGEN); Adcetris Label Supports Limited Market Opportunity

Canaccord Genuity maintains a 'Sell' on Seattle Genetics (NASDAQ: SGEN) price target of $10.00.

Canaccord analyst, George Farmer, said, "Following announcement of accelerated Adcetris approvals, we believe prevailing evidence supports our view of a limited heme-onc market opportunity...Valuation: Our $10 price target is based on a DCF assuming exit by acquisition. Risks to our thesis include acquisition at a premium and higher-than-expected Adcetris market penetration."

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 $15.04 yesterday.

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