UPDATE: H.C. Wainwright & Co. Initiates Coverage on Seattle Genetics on Good Potential for Adcetris

In a report published Monday, H.C. Wainwright & Co. analyst Andrew S. Fein initiated coverage on Seattle Genetics (NASDAQ: SGEN) with a Buy rating and $65.00 price target.

In the report, H.C. Wainwright & Co. noted, “We believe that Adcetris, anti-CD30-targeted antibody drug conjugate (ADC), already approved for the treatment of refractory Hodgkin's lymphoma and anaplastic large cell lymphoma, could show further robust activity allowing it to move into new cancer indications and earlier lines of therapy. While Street expectations for SGEN are high, we also believe there could be attractive upside based on prospects for Adcetris, other ADCs, and the technology platform.”

Seattle Genetics closed on Friday at $51.78.