Seattle Genetics (NASDAQ:SGEN)‘s stock had its “hold” rating restated by analysts at Oppenheimer in a note issued to investors on Tuesday.
Several other brokerages also recently issued reports on SGEN. Barclays raised shares of Seattle Genetics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $60.00 to $70.00 in a research report on Friday, October 20th. Zacks Investment Research downgraded shares of Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. SunTrust Banks set a $52.00 price objective on shares of Seattle Genetics and gave the stock a “hold” rating in a research report on Friday, October 27th. Cowen reissued a “hold” rating on shares of Seattle Genetics in a research report on Sunday, October 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Seattle Genetics from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $63.76.
Shares of Seattle Genetics (SGEN) traded up $0.48 during mid-day trading on Tuesday, hitting $56.61. 540,900 shares of the stock traded hands, compared to its average volume of 744,500. Seattle Genetics has a 52 week low of $45.31 and a 52 week high of $71.32. The company has a market capitalization of $8,000.00, a P/E ratio of -65.07 and a beta of 2.37.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The company had revenue of $135.29 million during the quarter, compared to the consensus estimate of $112.76 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The firm’s revenue was up 27.3% compared to the same quarter last year. equities research analysts predict that Seattle Genetics will post -0.93 EPS for the current year.
In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $61.18, for a total value of $1,152,141.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vaughn B. Himes sold 10,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $59.97, for a total transaction of $599,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,210 shares of company stock valued at $9,273,250. 34.70% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc lifted its stake in Seattle Genetics by 12.4% in the second quarter. Legal & General Group Plc now owns 109,089 shares of the biotechnology company’s stock valued at $5,644,000 after acquiring an additional 12,005 shares during the last quarter. Capital Bank & Trust Co lifted its stake in Seattle Genetics by 43.7% in the third quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock valued at $45,406,000 after acquiring an additional 253,753 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Seattle Genetics by 6.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock valued at $2,080,000 after acquiring an additional 2,500 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in Seattle Genetics by 104.4% in the second quarter. State of Wisconsin Investment Board now owns 40,343 shares of the biotechnology company’s stock valued at $2,087,000 after acquiring an additional 20,610 shares during the last quarter. Finally, South Dakota Investment Council lifted its stake in Seattle Genetics by 46.8% in the third quarter. South Dakota Investment Council now owns 49,900 shares of the biotechnology company’s stock valued at $2,715,000 after acquiring an additional 15,900 shares during the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.
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Seattle Genetics Company Profile
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).
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