Oppenheimer analyst Leah R. Cann maintained a Hold rating on Seattle Genetics (SGEN) today. The company’s shares opened today at $56.54.
Cann said:
“We have anticipated impact for Adcetris in front-line PTCL starting in late 2019. The timing of the sBLA in this setting combined with positive top-line data for the ECHELON-2 study supports our outlook. Adcetris, Seattle Genetics’ approved drug for Hodgkin’s lymphoma, had sales of $307.6 million, or 63.8% of total revenue, in 2017. We estimate that Adcetris sales, including additional indications, PTCL and anaplastic large cell lymphoma, along with label expansion into front-line Hodgkin’s lymphoma earlier this year, will increase to $838.7 million in 2022 and account for 70.7% of revenue. Continued strong data from ECHELON-1 are expected to drive adoption in the front-line Hodgkin’s setting, and the positive top-line data for ECHELON-2 support our view for approval and adoption in front-line PTCL.”
According to TipRanks.com, Cann is a 3-star analyst with an average return of 3.7% and a 40.2% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Seattle Genetics with a $82.67 average price target, implying a 46.2% upside from current levels. In a report issued on October 25, Piper Jaffray also maintained a Hold rating on the stock with a $66 price target.
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The company has a one-year high of $84.37 and a one-year low of $47.75. Currently, Seattle Genetics has an average volume of 911.9K.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Srinivas Akkaraju, a Director at SGEN bought 5,000 shares for a total of $41,900.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Seattle Genetics, Inc. engages in the development and commercialization of antibody-based therapies for the treatment of cancer. Its product ADCETRIS is an antibody-drug encompassing several settings for the treatment of relapsed Hodgkin lymphoma, for relapsed systemic anaplastic large cell lymphoma, or sALCL, and for certain types of cutaneous T-cell lymphoma, or CTCL. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers. The company was founded by Clay B. Siegall and H. Perry Fell on July 15, 1997 and is headquartered in Bothell, WA.
