| 2018-10-02 08:15:22|
SGEN 08:15 10/02 10/02/18
Seattle Genetics price target raised to $98 from $90 at RBC Capital
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%.