Canaccord Genuity Maintains a 'Sell' on Seattle Genetics (SGEN); Uncertain 2012 Adcetris Sales Outlook
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Price: $228.74 --0%
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
10 Buy, 18 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity maintains a 'Sell' on Seattle Genetics (NASDAQ: SGEN) price target of $11.00.
Analyst, George Farmer, said, "We see a number of factors negatively affecting Adcetris sales performance this year, including a higher gross-net sales adjustment (as guided), a near complete exhaustion of a one-time patient pool treated during the H2/11 launch (as alluded to on the conference call), and treatment duration negatively affected somewhat by a move to stem cell transplantation. Withholding sales guidance creates more uncertainty, in our view, especially since management should have by now an excellent read on demand and typical treatment duration."
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 $18.96 yesterday.
Analyst, George Farmer, said, "We see a number of factors negatively affecting Adcetris sales performance this year, including a higher gross-net sales adjustment (as guided), a near complete exhaustion of a one-time patient pool treated during the H2/11 launch (as alluded to on the conference call), and treatment duration negatively affected somewhat by a move to stem cell transplantation. Withholding sales guidance creates more uncertainty, in our view, especially since management should have by now an excellent read on demand and typical treatment duration."
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 $18.96 yesterday.
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