Needham & Company Reiterates a 'Buy' on Seattle Genetics (SGEN); Adcetris Data in Combination with AVD Supportive of Potential Role in Front Line Therapy

Needham & Company reiterates a 'Buy' on Seattle Genetics (NASDAQ: SGEN) price target of $20.00.

Needham analyst says, "Seattle Genetics presented additional data relating to Adcetris at the ASH meeting. Eventual penetration of front-line CD30+ cancers is key to the drug’s success. Yesterday, the company presented initial results from an ongoing Phase 1 trial in frontline Hodgkins Lymphoma. Although response rate data are not yet available, 93% of patients treated with Adcetris + AVD were PET-negative after two cycles of treatment. This compares favorably to the 70-80% rate typically seen with standard of care ABVD in this patient population. Furthermore, with the removal of bleomycin, no pulmonary toxicity was observed."

For an analyst ratings summary and ratings history on Seattle Genetics click here. For more ratings news on Seattle Genetics click here.

Shares of Seattle Genetics closed at $17.02 yesterday.

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