BidaskClub lowered shares of Seattle Genetics (NASDAQ:SGEN) from a sell rating to a strong sell rating in a research note published on Wednesday.
SGEN has been the subject of a number of other research reports. Oppenheimer reaffirmed a hold rating on shares of Seattle Genetics in a report on Thursday, December 7th. Royal Bank of Canada reissued a buy rating and set a $73.00 target price on shares of Seattle Genetics in a research note on Tuesday, March 20th. Cantor Fitzgerald set a $50.00 target price on shares of Seattle Genetics and gave the stock a hold rating in a research note on Tuesday, December 12th. Bank of America cut their target price on shares of Seattle Genetics from $70.00 to $68.00 and set a neutral rating for the company in a research note on Wednesday, February 7th. Finally, SunTrust Banks reissued a hold rating and set a $60.00 target price on shares of Seattle Genetics in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Seattle Genetics presently has a consensus rating of Hold and an average target price of $64.00.
SGEN opened at $50.07 on Wednesday. Seattle Genetics has a fifty-two week low of $45.31 and a fifty-two week high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.02. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. The company had revenue of $129.61 million during the quarter, compared to analysts’ expectations of $123.99 million. During the same quarter in the previous year, the company earned ($0.39) earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. equities research analysts expect that Seattle Genetics will post -1.57 EPS for the current fiscal year.
In related news, insider Vaughn B. Himes sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $58.12, for a total transaction of $290,600.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $51.71, for a total transaction of $973,802.72. The disclosure for this sale can be found here. Insiders have sold 71,953 shares of company stock worth $3,833,188 over the last 90 days. 34.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of SGEN. Capital International Investors boosted its position in Seattle Genetics by 63.7% during the third quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock worth $242,682,000 after acquiring an additional 1,735,657 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Seattle Genetics by 92.1% during the fourth 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 during the last quarter. Capital Guardian Trust Co. boosted its position in Seattle Genetics by 82.2% during the third 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 during the last quarter. Millennium Management LLC boosted its position in Seattle Genetics by 5,032.1% during the fourth quarter. Millennium Management LLC now owns 334,921 shares of the biotechnology company’s stock worth $17,918,000 after acquiring an additional 328,395 shares during the last quarter. Finally, Capital Bank & Trust Co boosted its position in Seattle Genetics by 43.7% during the third quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock worth $45,406,000 after acquiring an additional 253,753 shares during the last quarter. Hedge funds and other institutional investors own 93.10% of the company’s stock.
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About Seattle Genetics
Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.
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