UPDATE: Bank of America Lowers PT on Seattle Genetics from $18 to $17

Bank of America has published a research report on Seattle Genetics

lowering the price target. In the report, Bank of America wrote, "All in, our PO is lowered by $1 to $17, driven by the lower pricing. We see potential for upside to our estimates over the next 6-12 months based on strongly positive feedback from key opinion leaders, and we await initial sales data and new market feedback to better assess our model." Bank of America rated Seattle Genetics a BUY with a price target lowered from $18.00 to $17.00. Seattle Genetics closed Monday at $14.73.