After J.P. Morgan and RBC Capital gave Seattle Genetics (NASDAQ: SGEN) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst Gena Wang maintained a Buy rating on Seattle Genetics yesterday and set a price target of $84. The company’s shares closed yesterday at $75.17.
According to TipRanks.com, Wang is a 5-star analyst with an average return of 20.9% and a 53.8% success rate. Wang covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., Precision BioSciences Inc, and Meiragtx Holdings Plc.
Currently, the analyst consensus on Seattle Genetics is a Moderate Buy with an average price target of $79.50, representing a 5.8% upside. In a report issued on July 16, J.P. Morgan also maintained a Buy rating on the stock with a $73 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 865.4K.
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.
