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Fly News Breaks for September 15, 2016
SGEN
Sep 15, 2016 | 06:20 EDT
Goldman Sachs analyst Salveen Richter upgraded Seattle Genetics to Neutral after raising her estimates for Adcetris in Hodgkin lymphoma. The analyst also introduced a takeover component to her valuation given the company's "scarcity of commercial oncology assets and emerging optionality from the pipeline." She raised her price target for Seattle Genetics to $47 from $30. The biotechnology company closed yesterday up $2.36 to $54.06.
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