Seattle Genetics Receives a Hold from Oppenheimer

By Carrie Williams

In a report released today, Leah R. Cann from Oppenheimer reiterated a Hold rating on Seattle Genetics (NASDAQ: SGEN). The company’s shares closed last Friday at $61.74.

R. Cann wrote:

“A retrospective study designed and conducted at multiple institutions by the Hellenic Society of Hematology was presented on Friday, June 23 rd at the European Hematology Association (EHA) meeting. The study explored the impact of treatment with Adcetris (brentuximab vedotin) on overall survival of patients with Hodgkin’s Lymphoma relapsed after autologous stem cell transplantation (ASCT). The investigators reported that to their knowledge this is the first study showing an overall survival advantage of treatment with Adcetris. The study analyzed data for patients with Hodgkin’s Lymphoma who underwent ASCT in Greece during the past 20 years.”

According to, Cann is a 4-star analyst with an average return of 12.5% and a 84.3% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Syros Pharmaceuticals, and Acceleron Pharma.

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.

Based on Seattle Genetics’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $109 million and GAAP net loss of $59.99 million. In comparison, last year the company earned revenue of $111 million and had a GAAP net loss of $20.48 million.

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