Seattle Genetics Inc. (SGEN) Given Consensus Recommendation of “Hold” by Analysts
Shares of Seattle Genetics Inc. (NASDAQ:SGEN) have earned a consensus rating of “Hold” from the eighteen brokerages that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $50.83.
Several brokerages recently commented on SGEN. TheStreet raised Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Friday, October 28th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $43.00 price target on shares of Seattle Genetics in a research note on Monday, October 31st. HC Wainwright reaffirmed a “buy” rating on shares of Seattle Genetics in a research note on Sunday, October 30th. Leerink Swann reaffirmed an “outperform” rating and issued a $62.00 price target on shares of Seattle Genetics in a research note on Monday, October 24th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up previously from $55.00) on shares of Seattle Genetics in a research note on Monday, October 10th.
In related news, Director Felix Baker acquired 1,030,629 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was acquired at an average price of $56.13 per share, for a total transaction of $57,849,205.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Clay B. Siegall sold 14,465 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $58.43, for a total value of $845,189.95. The disclosure for this sale can be found here. 33.30% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC acquired a new stake in shares of Seattle Genetics during the second quarter valued at about $1,212,000. State Board of Administration of Florida Retirement System increased its stake in shares of Seattle Genetics by 17.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 179,627 shares of the company’s stock valued at $7,258,000 after buying an additional 26,935 shares during the period. Emerald Acquisition Ltd. acquired a new stake in shares of Seattle Genetics during the second quarter valued at about $16,220,000. Vanguard Group Inc. increased its stake in shares of Seattle Genetics by 2.6% in the second quarter. Vanguard Group Inc. now owns 7,110,502 shares of the company’s stock valued at $287,335,000 after buying an additional 178,403 shares during the period. Finally, Eqis Capital Management Inc. increased its stake in shares of Seattle Genetics by 4.6% in the second quarter. Eqis Capital Management Inc. now owns 38,087 shares of the company’s stock valued at $1,539,000 after buying an additional 1,658 shares during the period. Institutional investors and hedge funds own 96.57% of the company’s stock.
Seattle Genetics (NASDAQ:SGEN) traded up 0.67% on Friday, reaching $70.95. The company had a trading volume of 428,827 shares. The company’s market capitalization is $10.04 billion. The company’s 50 day moving average price is $58.62 and its 200-day moving average price is $48.06. Seattle Genetics has a 12 month low of $26.02 and a 12 month high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.06. Seattle Genetics had a negative return on equity of 16.27% and a negative net margin of 27.03%. The company had revenue of $106.30 million for the quarter, compared to analyst estimates of $4.34 million. During the same quarter last year, the firm earned ($0.21) EPS. Seattle Genetics’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, equities analysts predict that Seattle Genetics will post ($0.95) earnings per share for the current fiscal year.
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’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).
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