J.P. Morgan Remains a Buy on Seattle Genetics (SGEN)

By Austin Angelo

In a report issued on September 14, Cory Kasimov from J.P. Morgan maintained a Buy rating on Seattle Genetics (SGENResearch Report). The company’s shares closed last Wednesday at $177.36, close to its 52-week high of $187.99.

According to TipRanks.com, Kasimov is a 5-star analyst with an average return of 19.4% and a 54.6% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Alexion Pharmaceuticals, and BioMarin Pharmaceutical.

Seattle Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $182.00, representing a 3.7% upside. In a report issued on September 14, RBC Capital also maintained a Buy rating on the stock with a $191.00 price target.

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The company has a one-year high of $187.99 and a one-year low of $69.89. Currently, Seattle Genetics has an average volume of 963.9K.

Based on the recent corporate insider activity of 92 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.