UBS maintains a 'Neutral' on Seattle Genetics (SGEN); Thoughts on Near-, Mid-, and Long-Term
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Price: $228.74 --0%
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 2
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 2
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UBS maintains a 'Neutral' on Seattle Genetics (NASDAQ: SGEN) price target boosted from $16 to $22.
UBS analyst says, "SGEN shares are up 49% since Adcetris approval (peers: 6%) despite increasing short interest...Our views: [1] the lack of a negative catalyst in 2011 supports a Neutral rating; [2] the mid-term Adcetris opportunity is debateable, and could warrant reconsideration of views in 1H12; and [3] we now include discounted consideration of potential Adcetris label expansion opportunities and the antibody drug conjugate (ADC) platform to reflect the high likelihood of success in CD30+ tumors."
"We view near-term optionality as flat-to-positive, but expect debate in ‘12...We see a longer term bull case on the expanded role of ADC’s in anticancer therapy, although it is unclear to what extent Seattle will be able to capture economics given that other parties have ADCs, and that partnering dilutes SGEN interest. Importantly, we expect Adcetris to be active in additional CD30+ cancers."
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 $20.82 yesterday.
UBS analyst says, "SGEN shares are up 49% since Adcetris approval (peers: 6%) despite increasing short interest...Our views: [1] the lack of a negative catalyst in 2011 supports a Neutral rating; [2] the mid-term Adcetris opportunity is debateable, and could warrant reconsideration of views in 1H12; and [3] we now include discounted consideration of potential Adcetris label expansion opportunities and the antibody drug conjugate (ADC) platform to reflect the high likelihood of success in CD30+ tumors."
"We view near-term optionality as flat-to-positive, but expect debate in ‘12...We see a longer term bull case on the expanded role of ADC’s in anticancer therapy, although it is unclear to what extent Seattle will be able to capture economics given that other parties have ADCs, and that partnering dilutes SGEN interest. Importantly, we expect Adcetris to be active in additional CD30+ cancers."
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 $20.82 yesterday.
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