Seattle Genetics (SGEN) Receives a Buy from J.P. Morgan

J.P. Morgan analyst Cory Kasimov maintained a Buy rating on Seattle Genetics (SGEN) yesterday. The company’s shares closed last Monday at $100.89, close to its 52-week high of $102.84.

According to, Kasimov is a 4-star analyst with an average return of 3.0% and a 42.7% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Seattle Genetics is a Moderate Buy with an average price target of $95.00, a -1.6% downside from current levels. In a report released yesterday, Needham also maintained a Buy rating on the stock with a $121.00 price target.

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Based on Seattle Genetics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $79.24 million. In comparison, last year the company had a GAAP net loss of $67.45 million.

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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.

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