After William Blair and Oppenheimer gave Seattle Genetics (NASDAQ: SGEN) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Chad Messer assigned a Buy rating to Seattle Genetics today and set a price target of $254.00. The company’s shares closed last Tuesday at $183.99.
According to TipRanks.com, Messer is a 5-star analyst with an average return of 13.2% and a 50.1% 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 $195.57.
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Based on Seattle Genetics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.06 billion and net profit of $636 million. In comparison, last year the company earned revenue of $213 million and had a GAAP net loss of $91.91 million.
Based on the recent corporate insider activity of 93 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, David Gryska, a Director at SGEN sold 15,000 shares for a total of $2,605,523.
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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 products include Adcetris and Padcev. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers. The company was founded by Clay B. Siegall and H. Perry Fell on July 15, 1997 and is headquartered in Bothell, WA.