Seattle Genetics, Inc. (SGEN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) have received a consensus recommendation of “Buy” from the twenty ratings firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $73.00.

A number of research firms have recently weighed in on SGEN. Needham & Company LLC raised their price target on shares of Seattle Genetics from $74.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 30th. ValuEngine upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a report on Tuesday, June 12th. BidaskClub upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a report on Friday, June 8th. HC Wainwright restated a “buy” rating and issued a $98.00 price target (up from $77.00) on shares of Seattle Genetics in a report on Friday, July 27th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $75.00 price target on shares of Seattle Genetics in a report on Friday, July 27th.

Shares of NASDAQ:SGEN traded down $2.00 during trading on Wednesday, reaching $76.16. The stock had a trading volume of 1,078,814 shares, compared to its average volume of 946,828. Seattle Genetics has a one year low of $47.75 and a one year high of $78.82. The stock has a market capitalization of $12.24 billion, a P/E ratio of -87.34 and a beta of 1.80.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, July 26th. The biotechnology company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.81. Seattle Genetics had a negative net margin of 7.75% and a negative return on equity of 21.01%. The business had revenue of $170.20 million for the quarter, compared to analysts’ expectations of $141.07 million. During the same period last year, the business earned ($0.39) EPS. The company’s revenue was up 57.3% compared to the same quarter last year. equities analysts expect that Seattle Genetics will post -1.34 earnings per share for the current fiscal year.

In other Seattle Genetics news, EVP Darren S. Cline sold 4,784 shares of Seattle Genetics stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $74.23, for a total transaction of $355,116.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $69.07, for a total transaction of $1,300,726.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,318 shares of company stock valued at $8,503,437. Company insiders own 33.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SGEN. Xact Kapitalforvaltning AB increased its holdings in shares of Seattle Genetics by 6.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 14,737 shares of the biotechnology company’s stock valued at $771,000 after purchasing an additional 896 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Seattle Genetics by 5.6% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 17,093 shares of the biotechnology company’s stock valued at $895,000 after purchasing an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Seattle Genetics by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 284,301 shares of the biotechnology company’s stock valued at $14,880,000 after purchasing an additional 1,053 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Seattle Genetics by 12.1% during the 1st quarter. Stifel Financial Corp now owns 9,812 shares of the biotechnology company’s stock valued at $533,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Seattle Genetics by 35.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,395 shares of the biotechnology company’s stock valued at $230,000 after purchasing an additional 1,145 shares in the last quarter.

Seattle Genetics Company Profile

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.

Featured Story: Short Selling

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply