Seattle Genetics (SGEN) Receives a Buy from Berenberg Bank

Berenberg Bank analyst Zhiqiang Shu maintained a Buy rating on Seattle Genetics (SGEN) on September 15. The company’s shares closed last Monday at $177.19.

According to, Shu is a 3-star analyst with an average return of 19.5% and a 90.0% success rate. Shu covers the Healthcare sector, focusing on stocks such as Morphosys Ag, BioNTech SE, and CureVac.

Currently, the analyst consensus on Seattle Genetics is a Moderate Buy with an average price target of $195.57, implying a 13.0% upside from current levels. In a report issued on September 18, Needham also initiated coverage with a Buy rating on the stock with a $188.00 price target.

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The company has a one-year high of $213.94 and a one-year low of $90.57. Currently, Seattle Genetics has an average volume of 975K.

Based on the recent corporate insider activity of 95 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.

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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.

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