Leerink analyst Michael Schmidt raised his price target for Seattle Genetics to $72 from $62 to reflect adjustments to his probability-adjusted revenue forecast of Adcetris, SGN-CD33A, and ASG-22ME as well as operating expenses. The analyst says 2017 holds the promise to be an important year for the company with Phase 3 results expected from key Adcetris label extension trials. Beyond Adcetris, Schmidt notes that a potential near-term resolution for the clinical hold of three Phase 1/2 trials of SGN-CD33A represents a potential key catalyst, while the maturing earlier stage pipeline of Seattle Genetics represents an additional incremental source of upside in 2017. He reiterates an Outperform rating on the shares.