Cantor Fitzgerald Downgrades Seattle Genetics (SGEN) to Sell

Cantor Fitzgerald downgraded Seattle Genetics (NASDAQ: SGEN) from Hold to Sell with a price target of $20.00 (from $30.00).

The firm comments, "Following a very successful launch that saw rapid acceptance, ADCETRIS has struggled to produce sequential quarterly growth, and that has been an issue for shareholders, keeping the shares largely range bound over the past few months. While we like the longer-term opportunity for ADCETRIS to become a much more significant revenue-generating product, the company's valuation relative to the near-term prospects no longer looks compelling to maintain our HOLD rating."

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 $24.47 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Rubrik Inc (RBRK) PT Raised to $120 at Cantor Fitzgerald Into Q2 Earnings
• Eclat Textile Co Ltd (1476:TT) PT Lowered to NT$547 at Macquarie
• Unicycive Therapeutics (UNCY) PT Raised to $15 at Benchmark Following Q2 Results