Seattle Genetics (NASDAQ:SGEN) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Several other equities analysts have also commented on SGEN. Needham & Company LLC set a $121.00 price objective on Seattle Genetics and gave the company a “buy” rating in a research report on Monday, October 21st. Cowen set a $80.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a research report on Monday, October 21st. William Blair reiterated a “buy” rating on shares of Seattle Genetics in a research note on Friday, October 25th. Stifel Nicolaus set a $74.00 price target on shares of Seattle Genetics and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a research report on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $106.53.

Shares of NASDAQ:SGEN opened at $117.91 on Tuesday. The firm has a market capitalization of $20.28 billion, a P/E ratio of -71.31 and a beta of 2.03. The stock has a 50 day moving average price of $108.39 and a 200-day moving average price of $81.78. Seattle Genetics has a 52-week low of $51.50 and a 52-week high of $122.36.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported ($0.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.19). The firm had revenue of $213.26 million for the quarter, compared to the consensus estimate of $211.85 million. Seattle Genetics had a negative net margin of 37.97% and a negative return on equity of 19.17%. The company’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.42) earnings per share. On average, analysts forecast that Seattle Genetics will post -1.59 earnings per share for the current fiscal year.

In other Seattle Genetics news, insider Roger D. Dansey sold 5,000 shares of Seattle Genetics stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $121.48, for a total value of $607,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clay B. Siegall sold 28,472 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $68.33, for a total transaction of $1,945,491.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 228,348 shares of company stock worth $20,609,502. 33.80% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. raised its holdings in Seattle Genetics by 11.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 192,129 shares of the biotechnology company’s stock worth $14,072,000 after acquiring an additional 19,394 shares during the last quarter. Highland Capital Management LLC bought a new position in Seattle Genetics in the 2nd quarter valued at approximately $939,000. Janney Montgomery Scott LLC lifted its position in Seattle Genetics by 39.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 5,938 shares of the biotechnology company’s stock valued at $411,000 after acquiring an additional 1,665 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Seattle Genetics during the 2nd quarter valued at $233,000. Finally, First Trust Advisors LP boosted its stake in Seattle Genetics by 18.5% during the 2nd quarter. First Trust Advisors LP now owns 1,784,642 shares of the biotechnology company’s stock valued at $123,515,000 after purchasing an additional 278,792 shares during the last quarter. Hedge funds and other institutional investors own 96.60% of the company’s stock.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

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Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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