27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
While recent pullback in Seattle Genetics, Inc’s (NASDAQ:SGEN) shares presents an attractive entry point, there are several pipeline catalysts ahead, according to Oppenheimer.
The Analyst
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Oppenheimer’s Silvan Tuerkcan upgraded the rating on Seattle Genetics to Outperform while raising the price target from $77 to $82.
The Thesis
Two of Seattle Genetics’ pipeline assets, enfortumab vedotin and tucatinib, have readouts in the near term and both could deliver value, Tuerkcan said in the note.
Following a review of these two pipeline assets, the probability of success of tucatinib has been increased to 60% and the 2030 forecast for enfortumab vedotin (EV) has been raised to $1.2 billion, the analyst mentioned.
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He added that pivotal tucatinib data from HER2CLIMB could add $4 per share and upcoming EV data could indicate a larger opportunity in the treatment of bladder cancer.
Seattle Genetics had reported $159 million in Adcetris sales and $23 million in royalties for the second quarter of 2019.
The figures were ahead of the consensus estimates of $149 million and $20 million, respectively. Analyst Tuerkcan expects continued growth in Adcetris sales and estimates the fiscal 2019 results at $634 million.
He added, however, that the readouts for EV and tucatinib through the remainder of the year would be the near-term catalysts for the stock.
Price Action
Shares of Seattle Genetics were down 1.1% at time of publishing Thursday.
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27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.