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Fly News Breaks for February 6, 2020
SGEN
Feb 6, 2020 | 20:28 EDT
Piper Sandler analyst Joseph Catanzaro lowered his price target on Seattle Genetics to $125 after its Q4 results, saying the sales of Adcetris came in flat at $166.2M with a disappointing guidance of $675M-$700M coming in well below consensus $765M. The analyst says the update adds to his concerns about the longer term Adcetris estimates, though he is hopeful that Padcev and tucatinib can offset the soft results as he keeps his Overweight rating.
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