William Blair Believes Seattle Genetics (SGEN) Still Has Room to Grow

In a report issued on September 14, Andy Hsieh from William Blair reiterated a Buy rating on Seattle Genetics (SGEN). The company’s shares closed last Friday at $173.62, close to its 52-week high of $187.99.

According to TipRanks.com, Hsieh is a 5-star analyst with an average return of 23.7% and a 71.9% success rate. Hsieh covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Beyondspring, and ImmunoGen.

Seattle Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $182.00, representing a 2.2% upside. In a report issued on September 14, Needham also assigned a Buy rating to the stock with a $188.00 price target.

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Based on Seattle Genetics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $278 million and GAAP net loss of $21.19 million. In comparison, last year the company earned revenue of $218 million and had a GAAP net loss of $79.24 million.

Based on the recent corporate insider activity of 93 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, Clay Siegall, the President & CEO of SGEN bought 10,299 shares for a total of $199,984.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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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