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Fly News Breaks for October 2, 2018
SGEN
Oct 2, 2018 | 08:15 EDT
RBC Capital analyst Kennen MacKay raised his price target on Seattle Genetics to $98 and kept his Outperform rating, saying its ECHELON-2 trial "exceeded best case scenario" with a "surprise" overall survival benefit. The analyst notes that the results were a "clean win with E-2's magnitude of PFS benefit", raising his probability of success for the program to 100% from 75%.
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