Seattle Genetics (NASDAQ:SGEN) Price Target Raised to $165.00
Seattle Genetics (NASDAQ:SGEN) had its price target boosted by Goldman Sachs Group from $126.00 to $165.00 in a research note published on Tuesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the biotechnology company’s stock.
SGEN has been the subject of a number of other research reports. ValuEngine lowered shares of Seattle Genetics from a buy rating to a hold rating in a report on Tuesday, December 3rd. Leerink Swann upped their target price on shares of Seattle Genetics from $102.00 to $120.00 and gave the stock a positive rating in a report on Tuesday, October 22nd. Morgan Stanley dropped their target price on shares of Seattle Genetics from $123.00 to $115.00 and set an equal weight rating for the company in a report on Friday, January 17th. Deutsche Bank upped their target price on shares of Seattle Genetics from $88.00 to $95.00 and gave the stock a hold rating in a report on Tuesday, October 22nd. Finally, Bank of America started coverage on shares of Seattle Genetics in a report on Tuesday, December 3rd. They set a neutral rating and a $125.00 target price for the company. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $118.94.
NASDAQ:SGEN opened at $118.22 on Tuesday. The company has a fifty day moving average of $112.39 and a two-hundred day moving average of $97.37. The stock has a market capitalization of $20.34 billion, a PE ratio of -120.63 and a beta of 2.00. Seattle Genetics has a fifty-two week low of $62.90 and a fifty-two week high of $124.32.
In related news, insider Vaughn B. Himes sold 8,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $117.16, for a total value of $937,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Roger D. Dansey sold 2,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $114.07, for a total transaction of $228,140.00. The disclosure for this sale can be found here. Insiders sold 207,916 shares of company stock valued at $21,550,901 in the last three months. 33.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. NEXT Financial Group Inc grew its holdings in shares of Seattle Genetics by 333.3% in the third quarter. NEXT Financial Group Inc now owns 325 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 250 shares during the period. Altshuler Shaham Ltd acquired a new position in Seattle Genetics in the fourth quarter valued at about $39,000. Usca Ria LLC acquired a new position in Seattle Genetics in the third quarter valued at about $34,000. Quadrant Capital Group LLC lifted its position in Seattle Genetics by 215.4% in the third quarter. Quadrant Capital Group LLC now owns 511 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 349 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in Seattle Genetics in the fourth quarter valued at about $71,000. 95.86% of the stock is owned by hedge funds and other institutional investors.
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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