Seattle Genetics (SGEN) Upgraded to Hold by BidaskClub

Seattle Genetics (NASDAQ:SGEN) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday, March 15th.

SGEN has been the subject of a number of other research reports. Oppenheimer reissued a “hold” rating on shares of Seattle Genetics in a research note on Thursday, December 7th. 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 lowered 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. 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. Finally, TheStreet upgraded shares of Seattle Genetics from a “d” rating to a “c” rating in a report on Thursday, November 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Seattle Genetics currently has a consensus rating of “Hold” and a consensus price target of $64.00.

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Shares of NASDAQ:SGEN opened at $50.07 on Thursday. Seattle Genetics has a 12-month low of $45.31 and a 12-month high of $71.32. The company has a market cap of $8,203.75, a price-to-earnings ratio of -56.90 and a beta of 1.84.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The business had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS. sell-side analysts expect that Seattle Genetics will post -1.57 earnings per share for the current year.

In other news, insider Vaughn B. Himes sold 5,000 shares of Seattle Genetics 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $57.32, for a total transaction of $1,079,450.24. The disclosure for this sale can be found here. Insiders sold 71,953 shares of company stock valued at $3,833,188 over the last 90 days. Corporate insiders own 34.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Seattle Genetics by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 299 shares during the last quarter. Eqis Capital Management Inc. grew its holdings in shares of Seattle Genetics by 3.6% during the fourth quarter. Eqis Capital Management Inc. now owns 26,087 shares of the biotechnology company’s stock valued at $1,396,000 after buying an additional 916 shares during the last quarter. JGP Global Gestao de Recursos Ltda. grew its holdings in shares of Seattle Genetics by 4.9% during the third quarter. JGP Global Gestao de Recursos Ltda. now owns 20,603 shares of the biotechnology company’s stock valued at $1,121,000 after buying an additional 969 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Seattle Genetics by 8.7% during the third quarter. Advisors Asset Management Inc. now owns 12,663 shares of the biotechnology company’s stock valued at $689,000 after buying an additional 1,012 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in shares of Seattle Genetics by 5.8% during the fourth quarter. Amalgamated Bank now owns 19,142 shares of the biotechnology company’s stock valued at $1,024,000 after buying an additional 1,043 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.

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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