Oppenheimer Believes Seattle Genetics (NASDAQ: SGEN) Still Has Room to Grow

Oppenheimer analyst Silvan Tuerkcan maintained a Buy rating on Seattle Genetics (SGENResearch Report) yesterday and set a price target of $146.00. The company’s shares closed last Thursday at $137.23, close to its 52-week high of $150.00.

According to TipRanks.com, Tuerkcan is a 5-star analyst with an average return of 35.3% and a 78.6% success rate. Tuerkcan covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals, Crispr Therapeutics AG, and Intellia Therapeutics.

Seattle Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $140.00, implying a 0.7% upside from current levels. In a report issued on April 17, J.P. Morgan also maintained a Buy rating on the stock.

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Based on Seattle Genetics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $290 million and net profit of $25.83 million. In comparison, last year the company earned revenue of $175 million and had a GAAP net loss of $120 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 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.