Seattle Genetics (NASDAQ:SGEN) has been assigned a $50.00 target price by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, January 8th. The firm presently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 4.87% from the stock’s current price.
A number of other analysts also recently commented on the company. Cann assumed coverage on Seattle Genetics in a research report on Wednesday, November 8th. They issued a “hold” rating for the company. Oppenheimer reiterated a “hold” rating on shares of Seattle Genetics in a research report on Thursday, December 7th. Guggenheim reiterated a “buy” rating and issued a $72.00 price target on shares of Seattle Genetics in a research report on Monday, October 23rd. BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. Finally, TheStreet raised Seattle Genetics from a “d” rating to a “c” rating in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $63.76.
Seattle Genetics (NASDAQ:SGEN) traded up $1.61 during midday trading on Monday, reaching $52.56. The company had a trading volume of 1,862,500 shares, compared to its average volume of 957,482. Seattle Genetics has a fifty-two week low of $45.31 and a fifty-two week high of $71.32. The firm has a market capitalization of $7,620.00, a PE ratio of -60.41 and a beta of 2.37.
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, topping the consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The business had revenue of $135.29 million for the quarter, compared to analyst estimates of $112.76 million. During the same quarter in the prior year, the company earned ($0.23) earnings per share. The company’s quarterly revenue was up 27.3% on a year-over-year basis. equities analysts expect that Seattle Genetics will post -0.93 EPS for the current year.
In other Seattle Genetics news, CFO Todd E. Simpson sold 39,385 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total transaction of $2,398,940.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Eric Dobmeier sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $58.25, for a total value of $2,038,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 157,210 shares of company stock worth $9,094,911 in the last quarter. Company insiders own 34.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its position in Seattle Genetics by 6.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 323,051 shares of the biotechnology company’s stock valued at $17,284,000 after acquiring an additional 18,490 shares in the last quarter. Creative Planning lifted its position in Seattle Genetics by 22.5% in the 4th quarter. Creative Planning now owns 42,417 shares of the biotechnology company’s stock valued at $2,269,000 after acquiring an additional 7,797 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in Seattle Genetics by 40.7% in the 4th quarter. Gateway Investment Advisers LLC now owns 67,161 shares of the biotechnology company’s stock valued at $3,593,000 after acquiring an additional 19,429 shares in the last quarter. Bank of Montreal Can lifted its position in Seattle Genetics by 727.3% in the 4th quarter. Bank of Montreal Can now owns 8,381 shares of the biotechnology company’s stock valued at $449,000 after acquiring an additional 7,368 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new position in Seattle Genetics in the 3rd quarter valued at approximately $260,000. 98.89% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This article was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another site, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The original version of this article can be viewed at https://www.dispatchtribunal.com/2018/01/18/cantor-fitzgerald-reiterates-50-00-price-target-for-seattle-genetics-sgen.html.
Seattle Genetics Company Profile
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).
Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.