Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) have been given an average rating of “Buy” by the eighteen analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $80.40.
Several research analysts recently weighed in on SGEN shares. restated a “hold” rating on shares of Seattle Genetics in a research note on Monday, October 22nd. Needham & Company LLC decreased their price objective on Seattle Genetics to $73.00 and set a “buy” rating for the company in a report on Friday, October 26th. Barclays decreased their price objective on Seattle Genetics from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, October 26th. Piper Jaffray Companies decreased their price objective on Seattle Genetics to $66.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $98.00 price objective on shares of Seattle Genetics in a report on Friday, October 26th.
SGEN stock traded down $0.26 on Friday, hitting $66.27. 23,118 shares of the company’s stock were exchanged, compared to its average volume of 1,011,086. Seattle Genetics has a 12-month low of $47.75 and a 12-month high of $84.37. The company has a market cap of $10.44 billion, a price-to-earnings ratio of -40.29 and a beta of 2.39.
Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.36). Seattle Genetics had a negative return on equity of 19.33% and a negative net margin of 34.01%. The business had revenue of $174.50 million for the quarter, compared to analysts’ expectations of $164.03 million. During the same quarter last year, the firm earned ($0.41) earnings per share. The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. Sell-side analysts predict that Seattle Genetics will post -0.44 EPS for the current year.
In related news, Director David W. Gryska sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 8th. The stock was sold at an average price of $65.04, for a total value of $325,200.00. Following the completion of the transaction, the director now owns 50,050 shares of the company’s stock, valued at approximately $3,255,252. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clay B. Siegall sold 20,148 shares of the company’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $59.74, for a total value of $1,203,641.52. The disclosure for this sale can be found here. In the last three months, insiders sold 61,463 shares of company stock valued at $3,840,215. Insiders own 33.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in Seattle Genetics by 107.5% in the 3rd quarter. Morgan Stanley now owns 296,026 shares of the biotechnology company’s stock worth $22,830,000 after purchasing an additional 153,370 shares during the period. Manning & Napier Group LLC raised its holdings in Seattle Genetics by 9.1% in the 4th quarter. Manning & Napier Group LLC now owns 1,625,891 shares of the biotechnology company’s stock worth $92,122,000 after purchasing an additional 135,280 shares during the period. Glenmede Trust Co. NA raised its holdings in Seattle Genetics by 500.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,400 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,000 shares during the period. Hsbc Holdings PLC acquired a new position in Seattle Genetics in the 3rd quarter worth about $322,000. Finally, Seven Eight Capital LP acquired a new position in Seattle Genetics in the 3rd quarter worth about $388,000.
About Seattle Genetics
Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.
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