J.P. Morgan Thinks Seagen’s Stock is Going to Recover

J.P. Morgan analyst Cory Kasimov maintained a Buy rating on Seagen (SGEN) on April 29 and set a price target of $177.00. The company’s shares closed last Monday at $145.15, close to its 52-week low of $134.10.

According to TipRanks.com, Kasimov is a 5-star analyst with an average return of 18.9% and a 55.1% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, BioMarin Pharmaceutical, and ACADIA Pharmaceuticals.

Currently, the analyst consensus on Seagen is a Moderate Buy with an average price target of $182.54, implying a 28.0% upside from current levels. In a report issued on April 20, Oppenheimer also maintained a Buy rating on the stock with a $213.00 price target.

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The company has a one-year high of $213.94 and a one-year low of $134.10. Currently, Seagen has an average volume of 1.13M.

Based on the recent corporate insider activity of 73 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. Most recently, in February 2021, Jean Liu, the GC of SGEN bought 4,846 shares for a total of $200,466.

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.

Washington-based Seagen, Inc. is a biotechnology company, which is focused on developing and commercializing innovative, empowered monoclonal antibody-based therapies for the treatment of cancer. Its products include Adcetris and Padcev.

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