Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) have been given a consensus rating of “Hold” by the twenty-three research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $63.53.
A number of brokerages have weighed in on SGEN. BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 9th. Cann began coverage on Seattle Genetics in a research report on Wednesday, November 8th. They issued a “hold” rating for the company. Bank of America raised Seattle Genetics from an “underperform” rating to a “neutral” rating in a research report on Friday, October 27th. Oppenheimer reissued a “hold” rating on shares of Seattle Genetics in a research report on Thursday, December 7th. Finally, JPMorgan Chase & Co. boosted 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.
Seattle Genetics (NASDAQ:SGEN) opened at $55.35 on Friday. Seattle Genetics has a 52-week low of $45.31 and a 52-week high of $71.32. The firm has a market capitalization of $7,970.00, a PE ratio of -32.75 and a beta of 2.08.
Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The business had revenue of $129.61 million during the quarter, compared to analyst estimates of $123.99 million. During the same quarter in the previous year, the firm earned ($0.39) EPS. Seattle Genetics’s revenue was up 23.1% on a year-over-year basis. analysts anticipate that Seattle Genetics will post -1.59 earnings per share for the current year.
In other news, insider Vaughn B. Himes sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $59.97, for a total transaction of $599,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Eric Dobmeier sold 3,729 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $58.75, for a total transaction of $219,078.75. The disclosure for this sale can be found here. Insiders have sold a total of 70,225 shares of company stock valued at $3,772,766 in the last ninety days. Insiders own 34.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGEN. Manning & Napier Advisors LLC purchased a new stake in shares of Seattle Genetics during the 3rd quarter valued at about $140,098,000. Capital International Investors increased its position in shares of Seattle Genetics by 63.7% during the 3rd quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock valued at $242,682,000 after purchasing an additional 1,735,657 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Seattle Genetics by 92.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,469,888 shares of the biotechnology company’s stock worth $132,139,000 after acquiring an additional 1,184,491 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in Seattle Genetics by 79.3% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,266,426 shares of the biotechnology company’s stock worth $68,906,000 after acquiring an additional 560,110 shares in the last quarter. Finally, Capital Guardian Trust Co. increased its holdings in Seattle Genetics by 82.2% in the 3rd quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock worth $57,909,000 after acquiring an additional 480,044 shares in the last quarter. 90.99% of the stock is owned by hedge funds and other institutional investors.
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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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