Seattle Genetics (NASDAQ:SGEN) has been given a $50.00 price objective by equities researchers at Cantor Fitzgerald in a note issued to investors on Monday, January 8th. The firm currently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s target price indicates a potential downside of 10.55% from the company’s current price.
A number of other brokerages have also recently commented on SGEN. Barclays raised Seattle Genetics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $70.00 in a research note on Friday, October 20th. Zacks Investment Research lowered Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. SunTrust Banks set a $52.00 price objective on Seattle Genetics and gave the stock a “hold” rating in a research report on Friday, October 27th. Cowen reiterated a “hold” rating on shares of Seattle Genetics in a research report on Sunday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on Seattle Genetics from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Seattle Genetics presently has a consensus rating of “Hold” and an average target price of $63.76.
Seattle Genetics (NASDAQ:SGEN) opened at $55.90 on Monday. The firm has a market capitalization of $7,527.45 and a PE ratio of -65.00. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $71.32.
In other news, insider Vaughn B. Himes sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $59.97, for a total value of $599,700.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $58.00, for a total value of $1,092,256.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,825 shares of company stock valued at $6,695,970. 34.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its holdings in Seattle Genetics by 116.5% during the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 1,428 shares during the period. Bristlecone Advisors LLC purchased a new position in Seattle Genetics during the 3rd quarter worth $180,000. Virtu Financial LLC bought a new stake in Seattle Genetics during the 3rd quarter valued at $203,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in Seattle Genetics during the 3rd quarter valued at $208,000. Finally, DRW Securities LLC bought a new stake in Seattle Genetics during the 2nd quarter valued at $207,000. Institutional investors own 98.91% of the company’s stock.
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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).
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