H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Seattle Genetics (SGEN) today and set a price target of $98. The company’s shares closed yesterday at $63.95.
Fein noted:
“We reach a price target of $98 after adjusting new corporate tax rate, cash, and other program updates. The price target is based on a sum-of-parts NPV-DCF ($59.2 HL + $3.53 relapsed sALCL+ $11.9 frontline PTCL + $20.3 platform + $2.8 cash). Key risks to achievement of our target price include trial failures, safety issues, regulatory delays, competition, and dilutive financing. For definitions and the distribution of analyst ratings, analyst certifications, and other disclosures, please refer to pages 2 – 3 of this report.Important Disclaimers This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c).”
According to TipRanks.com, Fein is a 5-star analyst with an average return of 9.1% and a 45.3% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Seattle Genetics with a $82.44 average price target.
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The company has a one-year high of $84.37 and a one-year low of $47.75. Currently, Seattle Genetics has an average volume of 1.14M.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. Last month, Srinivas Akkaraju, a Director at SGEN bought 5,000 shares for a total of $41,900.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Seattle Genetics, Inc. engages in the development and commercialization of antibody-based therapies for the treatment of cancer. Its product ADCETRIS is an antibody-drug encompassing several settings for the treatment of relapsed Hodgkin lymphoma, for relapsed systemic anaplastic large cell lymphoma, or sALCL, and for certain types of cutaneous T-cell lymphoma, or CTCL. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers. The company was founded by Clay B. Siegall and H. Perry Fell on July 15, 1997 and is headquartered in Bothell, WA.
