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Fly News Breaks for June 19, 2017
SGEN
Jun 19, 2017 | 09:36 EDT
Piper Jaffray analyst Edward Tenthoff lowered his price target for Seattle Genetics to $48 after the company announced the discontinuation of the Phase III Cascade trial in acute myeloid leukemia. The analyst views the news as a negative surprise and removed SGN-CD33A from his model. He keeps a Neutral rating on Seattle Genetics. The stock in early trading is down 9%, or $5.62, to $58.90.
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