Seattle Genetics, Inc. (NASDAQ:SGEN)‘s stock had its “hold” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research report issued on Tuesday.

SGEN has been the topic of a number of other research reports. Barclays PLC reissued a “hold” rating on shares of Seattle Genetics in a research note on Friday, June 23rd. BidaskClub cut shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. TheStreet cut shares of Seattle Genetics from a “c-” rating to a “d” rating in a research note on Tuesday, May 9th. Jefferies Group LLC reissued a “buy” rating and issued a $53.00 price target on shares of Seattle Genetics in a research note on Thursday, July 27th. Finally, ValuEngine raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.29.

Shares of Seattle Genetics (NASDAQ:SGEN) traded up 0.04% on Tuesday, reaching $48.78. The company’s stock had a trading volume of 85,618 shares. Seattle Genetics has a 52 week low of $43.71 and a 52 week high of $75.36. The stock’s market capitalization is $6.98 billion. The stock has a 50-day moving average of $50.25 and a 200 day moving average of $60.29.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The firm had revenue of $108.20 million for the quarter, compared to analysts’ expectations of $105.92 million. During the same quarter last year, the company earned ($0.23) EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts expect that Seattle Genetics will post ($1.70) EPS for the current year.

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In other news, EVP Darren S. Cline sold 6,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $49.19, for a total transaction of $295,140.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Clay B. Siegall sold 10,423 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $65.21, for a total transaction of $679,683.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,259 shares of company stock worth $3,686,811. Corporate insiders own 34.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Verition Fund Management LLC purchased a new position in shares of Seattle Genetics during the second quarter valued at $338,000. Tower Research Capital LLC TRC boosted its position in shares of Seattle Genetics by 6,835.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 4,238 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Seattle Genetics during the second quarter valued at $207,000. The Manufacturers Life Insurance Company boosted its position in shares of Seattle Genetics by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 299 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of 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 buying an additional 2,500 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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