Oppenheimer Keeps a Hold Rating on Seattle Genetics

By Jason Carr

Oppenheimer analyst Leah R. Cann maintained a Hold rating on Seattle Genetics (NASDAQ: SGEN) today. The company’s shares opened today at $69.12, close to its 52-week high of $69.71.

Cann wrote:

“Tisotumab vedotin, a partnered compound, is one of two mid-stage clinical assets in Seattle Genetics pipeline. The timing of this study is as anticipated. The initiation of this Phase II study, innovaTV 204, along with the preliminary phase I/II data released in Q3 2017, is encouraging in the cervical cancer setting. Seattle Genetics now has four late-stage development programs planned or in registration studies, which we believe really strengthens the pipeline. Based on the stage of development of tisotumab vedotin, our financial outlook for Seattle Genetics’ revenue remains unchanged for 2018-22.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 22.8% and a 61.5% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

Seattle Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $68.

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The company has a one-year high of $69.71 and a one-year low of $45.31. Currently, Seattle Genetics has an average volume of 927K.

Based on the recent corporate insider activity of 63 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.

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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.