October 23, 2017
Barclays bullish on Seattle Genetics’ Adcetris, sees 9% upside
© Reuters. Barclays bullish on Seattle Genetics’ Adcetris, sees 9% upside
- Barclays (LON:BARC) says it upgraded Seattle Genetics (SGEN -0.1%) to Overweight with a $70 (9% upside) price target based on an upward revision to Adcetris sales, now expected to peak at $1.8B versus $1.5B.
- The source of the increase is Hodgkin lymphoma, expected to peak at $1.2B compared to $900M, citing physician feedback that indicated they would accept the product’s marginal improvement in efficacy versus standard-of-care chemo for a meaningful gain in safety/toxicity.
- Source: Bloomberg
- Now read: Fishing For Good Stocks – Cramer’s Mad Money (10/11/17)