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Fly News Breaks for February 13, 2017
SGEN, IMMU
Feb 13, 2017 | 07:00 EDT
Jefferies analyst Matthew Andrews raised his price target for Immunomedics (IMMU) to $7.50 saying the global license deal with Seattle Genetics (SGEN) is "broadly favorable." The agreement removes the licensing and financing overhangs on stock, and validates the company's ADC platform, Andrews tells investors in a research note. He believes "multiple catalysts" in 2017 could drive shares of Immunomedics higher and keeps a Buy rating on the name.
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