Seattle Genetics, Inc. (NASDAQ:SGEN) had its price target increased by Royal Bank Of Canada from $68.00 to $69.00 in a note issued to investors on Monday. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 19.05% from the company’s current price.

SGEN has been the topic of a number of other reports. Barclays PLC raised shares of Seattle Genetics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $70.00 in a report on Friday, October 20th. SunTrust Banks, Inc. set a $52.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a report on Friday, October 27th. HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of Seattle Genetics in a research report on Friday, October 27th. BidaskClub downgraded shares of Seattle Genetics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC restated a “buy” rating and issued a $53.00 price target on shares of Seattle Genetics in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.53.

Shares of Seattle Genetics (NASDAQ:SGEN) opened at $57.96 on Monday. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $73.99.

Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The firm had revenue of $135.29 million for the quarter, compared to analyst estimates of $112.76 million. During the same period in the previous year, the firm posted ($0.23) EPS. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. research analysts predict that Seattle Genetics will post -1.01 earnings per share for the current year.

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In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $61.18, for a total transaction of $1,152,141.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vaughn B. Himes sold 6,377 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 $305,394.53. The disclosure for this sale can be found here. Insiders have sold a total of 196,733 shares of company stock worth $10,543,551 in the last quarter. 34.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings in Seattle Genetics by 12.4% during the second quarter. Legal & General Group Plc now owns 109,089 shares of the biotechnology company’s stock worth $5,644,000 after buying an additional 12,005 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Seattle Genetics by 6.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock worth $2,080,000 after buying an additional 2,500 shares during the last quarter. Spark Investment Management LLC raised its holdings in Seattle Genetics by 166.5% during the second quarter. Spark Investment Management LLC now owns 139,100 shares of the biotechnology company’s stock worth $7,197,000 after buying an additional 86,900 shares during the last quarter. State of Wisconsin Investment Board raised its holdings in Seattle Genetics by 104.4% during the second quarter. State of Wisconsin Investment Board now owns 40,343 shares of the biotechnology company’s stock worth $2,087,000 after buying an additional 20,610 shares during the last quarter. Finally, Bristlecone Advisors LLC acquired a new position in Seattle Genetics during the third quarter worth $180,000. Hedge funds and other institutional investors own 98.45% 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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