Cann reissued their hold rating on shares of Seattle Genetics, Inc. (NASDAQ:SGEN) in a research report report published on Friday morning.

“Seattle Genetics announced today that preliminary clinical data for tisotumab vedotin from a Genmab-sponsored phase I/II clinical trial, GEN701, are being featured in an oral presentation at ESMO. Data were reported from an expansion cohort of the study including 34 patients with relapsed, recurrent and/or metastatic cervical cancer. It was reported that 32% of these patients achieved a response and 50% of patients achieved clinical benefit after 12 weeks. Median duration of confirmed responses was 8.3 months.”,” Cann’s analyst wrote.

SGEN has been the topic of a number of other research reports. BidaskClub lowered Seattle Genetics from a sell rating to a strong sell rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a buy rating and set a $53.00 price objective on shares of Seattle Genetics in a research report on Thursday, July 27th. Cantor Fitzgerald reaffirmed a hold rating on shares of Seattle Genetics in a research report on Tuesday, August 29th. ValuEngine raised Seattle Genetics from a sell rating to a hold rating in a research report on Friday, September 1st. Finally, Piper Jaffray Companies reaffirmed a neutral rating and set a $48.00 price objective on shares of Seattle Genetics in a research report on Tuesday, June 27th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $62.29.

Shares of Seattle Genetics (SGEN) opened at 53.64 on Friday. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $75.36. The company’s market cap is $7.67 billion. The firm’s 50-day moving average price is $49.62 and its 200 day moving average price is $59.45.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The business had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. During the same quarter in the prior year, the company earned ($0.23) earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Seattle Genetics will post ($1.69) earnings per share for the current fiscal year.

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In other Seattle Genetics news, CMO Jonathan G. Drachman sold 10,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $47.54, for a total value of $475,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd E. Simpson sold 9,638 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $52.00, for a total transaction of $501,176.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 156,520 shares of company stock valued at $7,984,672. Insiders own 34.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC boosted its stake in Seattle Genetics by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 12,630 shares of the biotechnology company’s stock valued at $794,000 after acquiring an additional 59 shares in the last quarter. Aperio Group LLC boosted its stake in Seattle Genetics by 0.3% in the second quarter. Aperio Group LLC now owns 31,693 shares of the biotechnology company’s stock valued at $1,640,000 after acquiring an additional 91 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in Seattle Genetics by 0.7% in the second quarter. Eqis Capital Management Inc. now owns 26,258 shares of the biotechnology company’s stock valued at $1,359,000 after acquiring an additional 177 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Seattle Genetics by 1.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,613 shares of the biotechnology company’s stock valued at $981,000 after acquiring an additional 191 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Seattle Genetics by 1.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,400 shares of the biotechnology company’s stock valued at $952,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 97.70% of the company’s stock.

About Seattle Genetics

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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