Seattle Genetics, Inc. (NASDAQ:SGEN) announced that data from multiple proprietary and collaborator antibody-drug conjugate (ADC) programs will be highlighted in more than 10 sessions at the American Society of Clinical Oncology (ASCO) 2015 Annual Meeting being held May 29 to June 2, 2015 in Chicago, IL. Presentations will feature data from several corporate and investigator-sponsored trials with ADCETRIS® (brentuximab vedotin), including additional analyses from the phase 3 AETHERA clinical trial and updated data in frontline diffuse large B-cell lymphoma (DLBCL). In addition, the company’s ADC collaborators, including Genentech (a member of the Roche Group), AbbVie, Genmab and Agensys (an affiliate of Astellas), will report data from clinical programs using Seattle Genetics’ ADC technology. Seattle Genetics will also present preclinical data from its novel SEA-CD40 immuno-oncology candidate currently being evaluated in a phase 1 clinical trial.
Seattle Genetics is evaluating its ADC technology broadly through ADCETRIS, proprietary pipeline and collaborator programs. The company is leading the field in developing ADCs, a technology designed to harness the targeting ability of antibodies to deliver cell-killing agents directly to cancer cells. In addition, Seattle Genetics is building on expertise in empowered, targeted approaches for the treatment of cancer in advancing its proprietary sugar-engineered antibody (SEA) technology, a novel technology designed to increase the potency of monoclonal antibodies through glycoengineering which may lead to an improved antitumor immune response. (Original Source)
Shares of Seattle Genetics closed yesterday at $42.5 . SGEN has a 1-year high of $44.95 and a 1-year low of $30.05. The stock’s 50-day moving average is $38.16 and its 200-day moving average is $35.37.
On the ratings front, Seattle Genetics has been the subject of a number of recent research reports. In a report issued on May 6, Credit Suisse analyst Jeremiah Shepard initiated coverage with a Buy rating on SGEN and a price target of $51, which represents a potential upside of 20.0% from where the stock is currently trading. Separately, on April 30, J.P. Morgan’s Cory Kasimov maintained a Hold rating on the stock and has a price target of $40.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jeremiah Shepard and Cory Kasimov have a total average return of 30.4% and 13.8% respectively. Shepard has a success rate of 100.0% and is ranked #1092 out of 3610 analysts, while Kasimov has a success rate of 63.0% and is ranked #238.
Seattle Genetics Inc is a biotechnology company. It develops and commercializes monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease.