In a report released today, Kennen MacKay from RBC Capital maintained a Buy rating on Seattle Genetics (SGEN), with a price target of $90. The company’s shares closed yesterday at $73.79.
According to TipRanks.com, MacKay is a 5-star analyst with an average return of 16.1% and a 58.9% success rate. MacKay covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Aimmune Therapeutics, and Abeona Therapeutics.
Seattle Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $85.83, a 16.3% upside from current levels. In a report issued on March 29, H.C. Wainwright also maintained a Buy rating on the stock with a $98 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 882.4K.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SGEN in relation to earlier this year. Last month, Clay Siegall, the President & CEO of SGEN bought 16,556 shares for a total of $199,988.
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. is a biotechnology company, which engages in the development and commercialization of antibody-based therapies for the treatment of cancer. Its product Adcetris is an antibody-drug for the treatment of lymphoma. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers.