Cantor Fitzgerald Upgrades Seattle Genetics (SGEN) to Hold

Cantor Fitzgerald upgraded Seattle Genetics (NASDAQ: SGEN) from Sell to Hold with a price target of $35.00 (from $29.00).

Analyst Mara Goldstein said, "Following the release of 3Q:14 EPS, we are raising our rating to HOLD from SELL and our PT to $35 from $29. This is based on our belief that while quarter-toquarter variability will still occur with ADCETRIS sales, such fluctuations are likely less than in prior quarters. In addition, the early-stage pipeline (partnered and proprietary) is gaining greater visibility, and we assign more value to this. However, because we still feel that expectations are high, the shares are still expensive, in our view."

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 $35.25 yesterday.

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