Needham analyst Chad Messer maintained a Buy rating on Seattle Genetics (SGEN) today and set a price target of $135.00. The company’s shares closed last Monday at $118.64, close to its 52-week high of $122.36.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 11.1% and a 47.5% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Ionis Pharmaceuticals.
Currently, the analyst consensus on Seattle Genetics is a Moderate Buy with an average price target of $122.91, implying a 3.5% upside from current levels. In a report issued on January 27, BMO Capital also initiated coverage with a Buy rating on the stock with a $139.00 price target.
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The company has a one-year high of $122.36 and a one-year low of $62.90. Currently, Seattle Genetics has an average volume of 1.05M.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SGEN in relation to earlier this year. Last month, Daniel G. Welch, a Director at SGEN bought 17,500 shares for a total of $223,300.
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.
