Analysts Offer Insights on Healthcare Companies: Seattle Genetics (NASDAQ: SGEN) and CytRx Corporation (NASDAQ: CYTR)

By Carrie Williams

There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Seattle Genetics (NASDAQ: SGEN) and CytRx Corporation (NASDAQ: CYTR) with bullish sentiments.

Seattle Genetics (NASDAQ: SGEN)

H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Seattle Genetics (NASDAQ: SGEN) today and set a price target of $77. The company’s shares closed yesterday at $61.51.

Fein said:

“We believe the FDA warning against CPI usage in the first-line setting last month, and the long DOR by CPI treatment in the second-line setting presented at ASCO this weekend, may result in a delay in EV-201 trial enrollment and primary study completion initially planned in 2020. Last month, the FDA issued a warning against single-agent checkpoint inhibition for frontline PDL1-low patients, based on a recent data monitoring committee (DMC) assessment for the phase 3 KEYNOTE-361 study (pembrolizumab, Merck, MRK; not rated) and the phase 3 IMvigor130 study (atezolizumab, Genentech, DNA; not rated) results.”

According to TipRanks.com, Fein is a 4-star analyst with an average return of 7.4% and a 52.0% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.

Seattle Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $65.60.

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CytRx Corporation (NASDAQ: CYTR)

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on CytRx Corporation (NASDAQ: CYTR) today and set a price target of $4.50. The company’s shares closed yesterday at $1.27, close to its 52-week low of $1.23.

Selvaraju wrote:

“We reiterate our Buy rating and 12-month price target of $4.50 per share.”

According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of -0.4% and a 40.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

CytRx Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.

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