Seattle Genetics (NASDAQ:SGEN) had its price target lifted by investment analysts at BMO Capital Markets from $174.00 to $186.00 in a report released on Tuesday, The Fly reports. BMO Capital Markets’ target price would suggest a potential upside of 11.80% from the company’s previous close.

Several other research analysts also recently weighed in on SGEN. Zacks Investment Research downgraded Seattle Genetics from a “buy” rating to a “hold” rating and set a $132.00 target price for the company. in a research note on Wednesday, April 15th. Cfra upped their target price on Seattle Genetics from $122.00 to $129.00 and gave the stock a “sell” rating in a research note on Friday, May 1st. Barclays reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Sunday, May 3rd. Piper Sandler boosted their price target on Seattle Genetics from $135.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, JMP Securities assumed coverage on Seattle Genetics in a research report on Tuesday, May 26th. They set an “outperform” rating and a $185.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Seattle Genetics currently has a consensus rating of “Buy” and an average price target of $147.42.

NASDAQ:SGEN traded up $2.00 during trading hours on Tuesday, reaching $166.37. The company had a trading volume of 19,617 shares, compared to its average volume of 1,240,612. Seattle Genetics has a 1-year low of $63.02 and a 1-year high of $175.64. The firm has a market cap of $28.45 billion, a PE ratio of -88.69 and a beta of 1.42. The business’s 50 day moving average price is $157.89 and its 200-day moving average price is $127.73.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.81) by ($0.17). The business had revenue of $234.51 million for the quarter, compared to analyst estimates of $207.59 million. Seattle Genetics had a negative return on equity of 16.51% and a negative net margin of 32.81%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) earnings per share. On average, equities analysts anticipate that Seattle Genetics will post -2.8 earnings per share for the current year.

In other news, CEO Clay B. Siegall sold 28,472 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $120.01, for a total transaction of $3,416,924.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc E. Lippman sold 1,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $152.03, for a total value of $152,030.00. Following the transaction, the director now owns 48,668 shares of the company’s stock, valued at $7,398,996.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,756 shares of company stock valued at $110,414,053. 31.10% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in shares of Seattle Genetics during the 4th quarter worth $4,456,000. Synovus Financial Corp grew its holdings in shares of Seattle Genetics by 206.5% during the 1st quarter. Synovus Financial Corp now owns 331 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 223 shares during the period. Exchange Traded Concepts LLC lifted its stake in Seattle Genetics by 387.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 458 shares of the biotechnology company’s stock worth $53,000 after acquiring an additional 364 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Seattle Genetics by 66.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 500 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 200 shares in the last quarter. Finally, CSat Investment Advisory L.P. lifted its stake in Seattle Genetics by 20.2% during the 1st quarter. CSat Investment Advisory L.P. now owns 624 shares of the biotechnology company’s stock worth $72,000 after acquiring an additional 105 shares in the last quarter. Institutional investors and hedge funds own 94.33% 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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