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Seattle Genetics (SGEN +2.4%) bucks a downgrade to Underweight on valuation at Piper Jaffray...

Seattle Genetics (SGEN +2.4%) bucks a downgrade to Underweight on valuation at Piper Jaffray earlier today. Piper cut the shares on expectations for limited sales growth until further ADCETRIS data is released. The firm also lowers its price target to $20 from $22.
Comments (1)
  • I have to admit I sold for a 41% gain recently. i had bought around 17. I feel like there is near-term risk here because revenue isn't exploding upward the way I think investors are hoping it would.

     

    The potential is surely there but big revenue numbers are many quarters away...assuming they get expansion of label uses. I've become a bit more skeptical about the ADC technology as well. I think the biotech that BMY is using for cancer is more promising.

     

    At 25 SGEN is looking a little rich.
    2 Jul 2012, 01:20 PM Reply Like
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