Jefferies Maintains Buy on Seattle Genetics

Jefferies is out with its report today on Seattle Genetics SGEN, maintaining Buy. In a note to clients, Jefferies writes, "At ASCO, SGEN reported updated data on pivotal trials of its anti-CD30 antibody conjugate Adcetris in relapsed or refractory Hodgkin lymphoma and relapsed or refractory systemic anaplastic large cell lymphoma. We are impressed with the new data on very long progression-free survival in patients achieving a complete response, and we remain positive on prospects for approval and commercialization of Adcetris." Jefferies maintian a $22 PT on SGEN. Shares of SGEN closed Monday at $19.37, up 2.27% from Friday's close.