Seattle Genetics

Seattle Genetics (SGEN - Get Report)  was rising Monday after analysts at Stifel raised their price target on the stock to $95 from $69 on positive results from its bladder cancer treatment candidate. 

The stock rose 11.22% to $84.56 on Monday.

In a presentation at the European Society for Medical Oncology meeting in Barcelona over the weekend, rival Immunomedics' (IMMU) sacituzumab govitecan showed a 29% response rate, short of the 44% response rate Seattle Genetics' competing drug showed. Shares of Immunomedics (IMMU) were falling 10.8% to $12.77. 

"There is an unmet clinical need for new treatments for patients with HER2-positive metastatic colorectal cancer," said Dr. Roger Dansey, chief medical officer at Seattle Genetics. "The trial demonstrated that tucatinib has the potential to play a role in the treatment of colorectal cancer. We look forward to developing tucatinib in combination with trastuzumab and other therapies for the treatment of HER2-positive metastatic colorectal cancer."

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