Seattle Genetics (NASDAQ:SGEN) had its price objective lowered by Bank of America from $70.00 to $68.00 in a research report released on Wednesday morning. Bank of America currently has a neutral rating on the biotechnology company’s stock.
Several other equities analysts also recently issued reports on the stock. Cann started coverage on shares of Seattle Genetics in a report on Wednesday, November 8th. They set a hold rating on the stock. Oppenheimer reissued a hold rating on shares of Seattle Genetics in a research note on Thursday, December 7th. Guggenheim reissued a buy rating and issued a $72.00 price target on shares of Seattle Genetics in a research note on Monday, October 23rd. BidaskClub raised shares of Seattle Genetics from a sell rating to a hold rating in a research note on Saturday, December 9th. Finally, TheStreet raised shares of Seattle Genetics from a d rating to a c rating in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Seattle Genetics presently has a consensus rating of Hold and an average price target of $64.56.
Seattle Genetics (NASDAQ SGEN) opened at $50.14 on Wednesday. The stock has a market cap of $7,160.00, a price-to-earnings ratio of -56.34 and a beta of 2.08. Seattle Genetics has a twelve month low of $45.31 and a twelve month high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The business had revenue of $129.61 million for the quarter, compared to the consensus estimate of $123.99 million. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 33.36%. The company’s revenue was up 23.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.39) earnings per share. analysts predict that Seattle Genetics will post -1.56 EPS for the current fiscal year.
In other Seattle Genetics news, insider Vaughn B. Himes sold 10,000 shares of Seattle Genetics stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $59.97, for a total transaction of $599,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $51.71, for a total transaction of $973,802.72. The disclosure for this sale can be found here. Insiders have sold 98,993 shares of company stock worth $5,603,714 over the last ninety days. 34.70% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its stake in Seattle Genetics by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 299 shares during the period. Prudential Financial Inc. raised its stake in Seattle Genetics by 6.8% during the second quarter. Prudential Financial Inc. now owns 6,291 shares of the biotechnology company’s stock worth $325,000 after purchasing an additional 400 shares during the period. Alliancebernstein L.P. raised its stake in Seattle Genetics by 1.1% during the second quarter. Alliancebernstein L.P. now owns 57,241 shares of the biotechnology company’s stock worth $2,962,000 after purchasing an additional 603 shares during the period. Eqis Capital Management Inc. raised its stake in Seattle Genetics by 3.6% during the fourth quarter. Eqis Capital Management Inc. now owns 26,087 shares of the biotechnology company’s stock worth $1,396,000 after purchasing an additional 916 shares during the period. Finally, JGP Global Gestao de Recursos Ltda. raised its stake in Seattle Genetics by 4.9% during the third quarter. JGP Global Gestao de Recursos Ltda. now owns 20,603 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 969 shares during the period. 98.92% of the stock is currently owned by institutional investors.
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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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