J.P. Morgan analyst Cory Kasimov maintained a Buy rating on Seattle Genetics (SGEN) yesterday and set a price target of $73. The company’s shares closed yesterday at $63.18.
According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 1.2% and a 41.7% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Seattle Genetics with a $78.29 average price target, implying a 23.9% upside from current levels. In a report released today, Piper Jaffray also upgraded the stock to Buy with a $75 price target.
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The company has a one-year high of $84.37 and a one-year low of $50.71. Currently, Seattle Genetics has an average volume of 782.7K.
Based on the recent corporate insider activity of 53 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, Vaughn Himes, the CTO of SGEN bought 4,704 shares for a total of $199,970.
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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.
