Seattle Genetics, Inc. (NASDAQ:SGEN)’s share price hit a new 52-week high and low during mid-day trading on Tuesday . The stock traded as low as $68.84 and last traded at $68.70, with a volume of 18962 shares traded. The stock had previously closed at $66.55.
Several equities analysts have recently issued reports on SGEN shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Seattle Genetics in a research note on Tuesday, March 20th. HC Wainwright reiterated a “buy” rating on shares of Seattle Genetics in a report on Tuesday, June 5th. BidaskClub upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a report on Friday, June 8th. SunTrust Banks upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and raised their target price for the stock from $60.00 to $80.00 in a report on Monday. Finally, ValuEngine upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $65.33.
The firm has a market capitalization of $10.56 billion, a P/E ratio of -77.20 and a beta of 1.91.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, April 26th. The biotechnology company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.31). The company had revenue of $140.59 million for the quarter, compared to analyst estimates of $119.04 million. Seattle Genetics had a negative return on equity of 29.74% and a negative net margin of 34.51%. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.42) earnings per share. analysts predict that Seattle Genetics, Inc. will post -1.68 earnings per share for the current fiscal year.
In other Seattle Genetics news, insider Vaughn B. Himes sold 5,000 shares of Seattle Genetics stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $58.47, for a total value of $292,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction that occurred on Monday, April 9th. The shares were sold at an average price of $50.52, for a total transaction of $951,392.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 972,105 shares of company stock valued at $51,109,391 and have sold 74,496 shares valued at $4,218,488. Company insiders own 33.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SGEN. Bank of Montreal Can lifted its stake in Seattle Genetics by 727.3% in the fourth quarter. Bank of Montreal Can now owns 8,381 shares of the biotechnology company’s stock valued at $449,000 after acquiring an additional 7,368 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Seattle Genetics by 6.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 323,051 shares of the biotechnology company’s stock valued at $17,284,000 after acquiring an additional 18,490 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Seattle Genetics by 6.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,753 shares of the biotechnology company’s stock valued at $1,324,000 after purchasing an additional 1,524 shares during the period. US Bancorp DE raised its position in shares of Seattle Genetics by 10.6% in the fourth quarter. US Bancorp DE now owns 15,797 shares of the biotechnology company’s stock valued at $845,000 after purchasing an additional 1,517 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Seattle Genetics in the fourth quarter valued at approximately $1,451,000.
Seattle Genetics Company Profile
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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