Needham & Company Reiterates a 'Buy' on Seattle Genetics; As the School Year Begins, So Does Commercial Life for SGEN
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Price: $228.74 --0%
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Seattle Genetics (NASDAQ: SGEN) price target of $22.00.
Needham analyst says, "While the approval is well expected, we are encouraged by the broad label for ADCETRIS. The price is in-line with orphan drugs in high unmet need conditions. The Company has hired 60 sales/marketing professionals, with average of 11 years of experience with plans to target ~8500 physicians, of which 28 of the top 30 prescribing physicians having been involved in clinical development of ADCETRIS. We are estimating ADCETRIS sales at $9.8MM in 2011 and $77MM in 2012. With regard to the confirmatory trials, the trials requested by the FDA are in-line with the Company’s plans for potential label expansion for ADCETRIS into other liquid tumor indications: further solid tumor trials for ADCETRIS are underway."
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.
Needham analyst says, "While the approval is well expected, we are encouraged by the broad label for ADCETRIS. The price is in-line with orphan drugs in high unmet need conditions. The Company has hired 60 sales/marketing professionals, with average of 11 years of experience with plans to target ~8500 physicians, of which 28 of the top 30 prescribing physicians having been involved in clinical development of ADCETRIS. We are estimating ADCETRIS sales at $9.8MM in 2011 and $77MM in 2012. With regard to the confirmatory trials, the trials requested by the FDA are in-line with the Company’s plans for potential label expansion for ADCETRIS into other liquid tumor indications: further solid tumor trials for ADCETRIS are underway."
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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