Seattle Genetics Downgraded To Neutral From Overweight At Piper Sandler
Piper Sandler analyst Joseph Catanzaro downgraded Seattle Genetics (SGEN) to Neutral from Overweight with a price target of $165, up from $155.
The stock closed Thursday down $3.93 to $172.90.
Over the next 12 months, the analyst sees limited visibility into "significant value-creating events" like the last year provided, particularly at the current valuation.
Further, most recent key opinion leader checks suggest Q2 Padcev revenues may not provide the upside that Q1 did, Catanzaro tells investors in a research note. Seattle Genetics' execution over the last 12 months has been solid, but the shares offer limited upside from here, says the analyst.
Disclosure: None.
How did you like this article? Let us know so we can better customize your reading experience.
But it still can be bought in small parcels every month, over 10 months. This will become a big pharma stock.