Seattle Genetics, Inc. (NASDAQ:SGEN) received a $46.00 target price from equities research analysts at Cantor Fitzgerald in a report released on Tuesday. The brokerage currently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s target price would suggest a potential downside of 20.30% from the company’s previous close.

A number of other research analysts have also weighed in on SGEN. J P Morgan Chase & Co reaffirmed a “hold” rating and set a $58.00 price objective on shares of Seattle Genetics in a research report on Tuesday, June 13th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Seattle Genetics in a research report on Thursday, June 15th. Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a research report on Monday, June 19th. Cowen and Company reaffirmed a “hold” rating and set a $54.00 price objective (down previously from $61.00) on shares of Seattle Genetics in a research report on Monday, June 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Seattle Genetics in a research report on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.00.

Seattle Genetics (NASDAQ:SGEN) opened at 57.715 on Tuesday. The company’s 50 day moving average price is $53.05 and its 200 day moving average price is $57.64. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $75.36. The stock’s market cap is $8.25 billion.

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, beating the Zacks’ consensus estimate 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 company had revenue of $108.20 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. Equities analysts forecast that Seattle Genetics will post ($1.69) EPS for the current fiscal year.

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In other news, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $53.49, for a total value of $1,007,323.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vaughn B. Himes sold 6,377 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $305,394.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,929 shares of company stock worth $8,342,308. Company insiders own 34.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Seattle Genetics by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,530,515 shares of the biotechnology company’s stock worth $389,628,000 after buying an additional 167,828 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Seattle Genetics by 2.6% in the 2nd quarter. BlackRock Inc. now owns 7,453,483 shares of the biotechnology company’s stock worth $385,644,000 after buying an additional 185,823 shares during the last quarter. State Street Corp boosted its stake in shares of Seattle Genetics by 10.9% in the 1st quarter. State Street Corp now owns 2,845,120 shares of the biotechnology company’s stock worth $178,847,000 after buying an additional 279,079 shares during the last quarter. Capital International Investors boosted its stake in shares of Seattle Genetics by 34.3% in the 2nd quarter. Capital International Investors now owns 2,724,589 shares of the biotechnology company’s stock worth $140,970,000 after buying an additional 695,986 shares during the last quarter. Finally, Matrix Capital Management Company LP boosted its stake in shares of Seattle Genetics by 18.8% in the 2nd quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock worth $109,585,000 after buying an additional 335,000 shares during the last quarter. Hedge funds and other institutional investors own 97.63% 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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