Needham & Company Reiterates Buy Rating on Seattle Genetics (SGEN)

Needham & Company analyst Chad Messer reiterated a Buy rating and $121.00 price target on Seattle Genetics (NASDAQ: SGEN) following the company's 3Q earnings report. Seattle had several positive data readouts in 3Q including results from enfortumab vedotin (EV) at ESMO and topline pivotal tucatinib results.

Follwing positive EV-103 results, Seattle is expanding the study into muscle-invasive patients. Tucatinib combined with Herceptin and capecitabine demonstrated superior PFS and OS over SOC. Presentation of the full results at the upcoming San-Antonio Breast Cancer Symposium (SABCS) could the next value driver for SGEN.

For an analyst ratings summary and ratings history on Seattle Genetics click here. For more ratings news on Seattle Genetics click here.

Shares of Seattle Genetics closed at $105.56 yesterday.

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