Seattle Genetics (SGEN) Received its Third Buy in a Row

After Barclays and RBC Capital gave Seattle Genetics (NASDAQ: SGEN) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Andrew Fein maintained a Buy rating on Seattle Genetics today and set a price target of $98. The company’s shares opened today at $72.50.

Fein observed:

“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 ($63.2 HL + $3.6 relapsed sALCL + $11.2 frontline PTCL + $17.7 platform + $2.9 cash). Key risks to achievement of our target price include trial failures, safety issues, regulatory delays, competition, and dilutive financing. Seattle Genetics Inc. March 29, 2019 H.C. WAINWRIGHT & CO.”

According to, Fein is a 5-star analyst with an average return of 8.0% and a 45.8% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and Proteostasis Therapeutics Inc.

Seattle Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $85.83, representing a 18.4% upside. In a report released today, RBC Capital also maintained a Buy rating on the stock with a $89 price target.

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Based on Seattle Genetics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $120 million. In comparison, last year the company had a GAAP net loss of $59.2 million.

Based on the recent corporate insider activity of 51 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. Earlier this month, Clay Siegall, the President & CEO of SGEN bought 16,556 shares for a total of $199,988.

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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.

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