Seattle Genetics (SGEN) Upgraded by TheStreet to “C-“

Seattle Genetics (NASDAQ:SGEN) was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating in a note issued to investors on Thursday.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $73.00 target price on shares of Seattle Genetics in a research report on Tuesday, March 20th. HC Wainwright reaffirmed a “buy” rating on shares of Seattle Genetics in a research report on Tuesday, June 5th. BidaskClub raised shares of Seattle Genetics from a “hold” rating to a “buy” rating in a research report on Friday, June 8th. SunTrust Banks raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and raised their target price for the company from $60.00 to $80.00 in a research report on Monday, June 11th. Finally, ValuEngine raised shares of Seattle Genetics from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Seattle Genetics has a consensus rating of “Buy” and a consensus target price of $66.57.

Seattle Genetics stock opened at $66.39 on Thursday. The firm has a market capitalization of $10.28 billion, a P/E ratio of -75.44 and a beta of 1.91. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $69.71.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, April 26th. The biotechnology company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.31). The business had revenue of $140.59 million during the quarter, compared to the consensus estimate of $119.04 million. Seattle Genetics had a negative net margin of 34.51% and a negative return on equity of 29.74%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period last year, the business posted ($0.42) EPS. equities analysts forecast that Seattle Genetics will post -1.68 EPS for the current year.

In other news, CEO Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $54.97, for a total transaction of $1,035,195.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darren S. Cline sold 12,054 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $69.00, for a total transaction of $831,726.00. Following the sale, the executive vice president now owns 72,723 shares of the company’s stock, valued at approximately $5,017,887. The disclosure for this sale can be found here. In the last three months, insiders bought 972,105 shares of company stock valued at $51,109,391 and sold 86,550 shares valued at $5,050,214. Company insiders own 33.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Seattle Genetics by 9.5% during the 1st quarter. BlackRock Inc. now owns 8,492,963 shares of the biotechnology company’s stock worth $444,521,000 after buying an additional 736,469 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Seattle Genetics by 92.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,469,888 shares of the biotechnology company’s stock worth $132,139,000 after buying an additional 1,184,491 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Seattle Genetics by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 862,272 shares of the biotechnology company’s stock worth $46,104,000 after buying an additional 5,765 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Seattle Genetics by 5.3% during the 1st quarter. Blair William & Co. IL now owns 692,242 shares of the biotechnology company’s stock worth $36,232,000 after buying an additional 34,744 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Seattle Genetics by 5.4% during the 1st quarter. Northern Trust Corp now owns 587,640 shares of the biotechnology company’s stock worth $30,758,000 after buying an additional 30,077 shares during the last quarter.

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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