Cantor Fitzgerald Reaffirms Their Hold Rating on Seattle Genetics

By Jason Carr

Cantor Fitzgerald analyst Mara Goldstein reiterated a Hold rating on Seattle Genetics (NASDAQ: SGEN) today and set a price target of $43. The company’s shares closed last Friday at $61.74.

Goldstein commented:

“The Phase III ECHELON-1 study in previously untreated patients with advanced classical Hodgkin lymphoma met its primary endpoint of modified PFS (82.1% versus 77.2% at two years).”

According to TipRanks.com, Goldstein is ranked 0 out of 5 stars with an average return of -3.2% and a 42.4% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Corvus Pharmaceuticals Inc, and Karyopharm Therapeutics.

Currently, the analyst consensus on Seattle Genetics is Moderate Buy and the average price target is $58.38, representing a -5.4% downside.

In a report issued on June 19, Piper Jaffray also maintained a Hold rating on the stock with a $48 price target.

The company has a one year high of $75.36 and a one year low of $35.93. Currently, Seattle Genetics has an average volume of 732.6K.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SGEN in relation to earlier this year. Most recently, in January 2017, Jonathan Drachman, the CMO & EVP, R & D of SGEN bought 5,000 shares for a total of $51,450.

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Seattle Genetics, Inc. engages in the development and commercialization of monoclonal antibody-based therapies for cancer. Its product ADCETRIS or brentuximab vedotin has been approved by both U.S. Food and Drug Association and Health Canada in U.S. and Canada respectively. ADCETRIS is an antibody-drug conjugate comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E. The company was founded by Clay B. Siegall and H. Perry Fell on July 15, 1997 and is headquartered in Bothell, WA.,0032YX-E