Needham Thinks Seagen’s Stock is Going to Recover

Needham analyst Chad Messer assigned a Buy rating to Seagen (SGEN) today and set a price target of $254.00. The company’s shares closed last Friday at $144.93, close to its 52-week low of $134.51.

According to, Messer is a 4-star analyst with an average return of 7.9% and a 45.4% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Phasebio Pharmaceuticals, and Aeglea Biotherapeutics.

Seagen has an analyst consensus of Moderate Buy, with a price target consensus of $184.17, representing a 35.0% upside. 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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Based on Seagen’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $601 million and net profit of $167 million. In comparison, last year the company earned revenue of $290 million and had a net profit of $25.83 million.

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.

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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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