Canaccord Genuity Maintains a 'Sell' on Seattle Genetics (SGEN); Q4 Adcetris Sales Expectations
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Price: $228.74 --0%
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Sell' on Seattle Genetics (NASDAQ: SGEN) price target of $11.00.
Analyst, George Farmer, said, "Our recently derived $27.5M Q4 Adcetris sales estimate assumes 717 r/r HL/ALCL treated patients, including 128 paying patients transitioning from an expanded access program (EAP), 270 new patients initiating therapy in Q3 and spilling over into Q4, and 65% penetration in an estimated 491 newly eligible patient pool."
"Given the HL/ALCL patient mix and the long-term physician relationships we expect SGEN has established, we believe the company must have a pretty good grasp on 2012 Adcetris sales expectations by now. Whether management chooses to share remains to be seen, but doing so, in our view, could relieve much Street uncertainty...we see high expectations for strong Q4/11 Adectris sales performance and potential profit taking after announcement this Monday."
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 $18.88 yesterday.
Analyst, George Farmer, said, "Our recently derived $27.5M Q4 Adcetris sales estimate assumes 717 r/r HL/ALCL treated patients, including 128 paying patients transitioning from an expanded access program (EAP), 270 new patients initiating therapy in Q3 and spilling over into Q4, and 65% penetration in an estimated 491 newly eligible patient pool."
"Given the HL/ALCL patient mix and the long-term physician relationships we expect SGEN has established, we believe the company must have a pretty good grasp on 2012 Adcetris sales expectations by now. Whether management chooses to share remains to be seen, but doing so, in our view, could relieve much Street uncertainty...we see high expectations for strong Q4/11 Adectris sales performance and potential profit taking after announcement this Monday."
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 $18.88 yesterday.
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