News stories about Seattle Genetics (NASDAQ:SGEN) have been trending somewhat positive this week, according to Accern. The research firm scores the sentiment of press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Seattle Genetics earned a coverage optimism score of 0.16 on Accern’s scale. Accern also gave news stories about the biotechnology company an impact score of 45.2363264509919 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news articles that may have effected Accern’s scoring:
Shares of Seattle Genetics (NASDAQ SGEN) traded down $1.57 during trading hours on Monday, reaching $57.88. The company’s stock had a trading volume of 544,958 shares, compared to its average volume of 964,501. Seattle Genetics has a one year low of $45.31 and a one year high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.23. The company had revenue of $135.29 million during the quarter, compared to the consensus estimate of $112.76 million. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. Seattle Genetics’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) earnings per share. equities research analysts predict that Seattle Genetics will post -0.93 EPS for the current fiscal year.
A number of research analysts have recently commented on SGEN shares. Barclays upgraded Seattle Genetics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $70.00 in a research report on Friday, October 20th. 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. SunTrust Banks set a $52.00 target price on Seattle Genetics and gave the stock a “hold” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, October 10th. Finally, J P Morgan Chase & Co lifted their target price on Seattle Genetics from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $63.53.
In related news, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $61.18, for a total transaction of $1,152,141.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Darren S. Cline sold 5,024 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $51.94, for a total value of $260,946.56. The disclosure for this sale can be found here. Insiders have sold 178,143 shares of company stock valued at $10,312,524 over the last quarter. 34.70% of the stock is owned by company insiders.
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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).
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