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Fly News Breaks for February 13, 2017
IMMU, SGEN
Feb 13, 2017 | 08:20 EDT
Credit Suisse analyst Kennen MacKay raised his price target for Seattle Genetics to $66 from $62 saying he views the company's bid for Immunomedics' IMMU-132 positively. The analyst sees potential for near-term accelerated submission and potential approval in 2018 with potential for blockbuster sales. MacKay assumes a 60% probability of deal closing as Immunomedics has potential to seek additional bids. He reiterates a Neutral rating on Seattle Genetics' shares.
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