Somewhat Positive News Coverage Somewhat Unlikely to Affect Seattle Genetics (SGEN) Share Price
Media headlines about Seattle Genetics (NASDAQ:SGEN) have been trending somewhat positive on Sunday, Accern Sentiment Analysis reports. The research group rates the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Seattle Genetics earned a news sentiment score of 0.08 on Accern’s scale. Accern also gave press coverage about the biotechnology company an impact score of 45.1903723673362 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the news stories that may have impacted Accern Sentiment Analysis’s analysis:
- -$0.42 Earnings Per Share Expected for Seattle Genetics, Inc. (SGEN) This Quarter (americanbankingnews.com)
- Global Acute Myeloid Leukemia Treatment Market to Reach US$ 1.17 Billion by 2021 According to iHealthcareAnalyst, Inc (newswiretoday.com)
- Middle East and Africa Antibodies Industry worth will be $ 7.417 Bn by 2021 (emailwire.com)
- CTI BioPharma Appoints Laurent Fischer as New Chairman of the Board and Announces Management Promotions (prnewswire.com)
- ETFs with exposure to Seattle Genetics, Inc. : September 25, 2017 (finance.yahoo.com)
SGEN has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Seattle Genetics in a report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “buy” rating and set a $53.00 price objective on shares of Seattle Genetics in a report on Thursday, July 27th. Cantor Fitzgerald set a $43.00 price objective on Seattle Genetics and gave the stock a “hold” rating in a report on Monday, June 19th. Cowen and Company reaffirmed a “hold” rating and set a $54.00 price objective (down from $61.00) on shares of Seattle Genetics in a report on Monday, June 19th. Finally, Cann reissued a “hold” rating on shares of Seattle Genetics in a research report on Monday, June 19th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $61.77.
Shares of Seattle Genetics (SGEN) opened at 54.41 on Friday. The stock has a 50 day moving average price of $49.71 and a 200-day moving average price of $58.82. The stock’s market cap is $7.78 billion. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. The company had revenue of $108.20 million during the quarter, compared to analyst estimates of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) earnings per share. On average, analysts forecast that Seattle Genetics will post ($1.68) EPS for the current fiscal year.
In other news, insider Vaughn B. Himes sold 10,000 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Todd E. Simpson sold 4,937 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $47.89, for a total transaction of $236,432.93. The disclosure for this sale can be found here. Insiders sold 175,352 shares of company stock valued at $8,884,096 in the last 90 days. Corporate insiders own 34.70% of the company’s stock.
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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).
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