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UPDATE: Bank of America Upgrades Seattle Genetics On Trial Risks

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In a report published Tuesday, Bank of America analyst Steve Byrne upgraded the rating on Seattle Genetics (NASDAQ: SGEN) from Underperform to Neutral, but lowered the price target from $46.00 to $40.00.

In the report, Bank of America noted, “We rate SGEN shares Neutral. While we believe expectations for Adcetris' label expansions are mostly priced in, given the stock's pull-back and potential favorable AETHERA readout in 2H14 we rate SGEN shares Neutral. SGEN's ADC platform could add upside to valuation but these wholly owned products are in early stage development.”

Seattle Genetics closed on Monday at $35.10.

Latest Ratings for SGEN

DateFirmActionFromTo
Oct 2020Morgan StanleyMaintainsEqual-Weight
Oct 2020SVB LeerinkMaintainsOutperform
Oct 2020B of A SecuritiesMaintainsNeutral

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View the Latest Analyst Ratings

 

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Posted-In: Bank of America Steve ByrneAnalyst Color Upgrades Analyst Ratings

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