Piper Jaffray Reiterates Overweight Rating On Seattle Genetics

According to Piper Jaffray, Seattle Genetics SGEN Overweight rating is reiterated. Piper Jaffray said that at the European Hematology Association (EHA) meeting in London over the weekend, SGEN reported updated data on ADCETRIS. “The only ODAC panel on the calendar for this summer to review the BLA is July 13th-14th. With an August 30th PDUFA date, we expect shares to continue higher on expectations of approval. We note that approval would reduce the discount we apply to our valuation.” Seattle Genetics closed on Friday at $19.40.