Canaccord Genuity Maintains a 'Sell' on Seattle Genetics (SGEN); Adcetris H2 Sales Estimate 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: 9 | Down: 12 | New: 19
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
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Canaccord Genuity maintains a 'Sell' on Seattle Genetics (NASDAQ: SGEN) price target of $10.00.
Canaccord analyst, George Farmer, said, "Derived from our detailed Adcetris dose scheduling model, our Q3/Q4 Adcetris sales estimates of $1.0M/$5.8M feed our Q3/Q4 total rev. estimates of $12.2M/$18.0M vs. consensus $13.4M/$22.9M. With this tool, we correlate sales potential with our Q3/Q4 estimates of 45/250 patients initiating Adcetris therapy, evenly distributed throughout. Patient numbers align with our view of an annual target population of ~1,900 Hodgkin’s lymphoma (HL) and anaplastic large cell lymphoma (ALCL) patients eligible for Adcetris treatment...Accordingly, we view management’s stated target of 8-9K patients as overly optimistic...Longer term, we see unlikely Adcetris market expansion into front-line settings given a toxicity profile incompatible with established standards of care."
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 $20.47 yesterday.
Canaccord analyst, George Farmer, said, "Derived from our detailed Adcetris dose scheduling model, our Q3/Q4 Adcetris sales estimates of $1.0M/$5.8M feed our Q3/Q4 total rev. estimates of $12.2M/$18.0M vs. consensus $13.4M/$22.9M. With this tool, we correlate sales potential with our Q3/Q4 estimates of 45/250 patients initiating Adcetris therapy, evenly distributed throughout. Patient numbers align with our view of an annual target population of ~1,900 Hodgkin’s lymphoma (HL) and anaplastic large cell lymphoma (ALCL) patients eligible for Adcetris treatment...Accordingly, we view management’s stated target of 8-9K patients as overly optimistic...Longer term, we see unlikely Adcetris market expansion into front-line settings given a toxicity profile incompatible with established standards of care."
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 $20.47 yesterday.
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