Piper Jaffray Reiterates OW Rating on Seattle Genetics

July 6, 2011 7:34 AM | 18 seconds read |
“We reiterate our Overweight rating,” Piper Jaffray wrote in a report focusing on Seattle Genetics Inc. SGEN. “Our $20 price target is based on a $1.9 billion enterprise value plus YE'11E cash of $310 million. SGEN has no debt. We see upside to our target based on ADCETRIS approval.” Seattle Genetics closed Tuesday at $20.88.
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