Seattle Genetics, Inc. (NASDAQ:SGEN) has been given a consensus rating of “Buy” by the twenty-four analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $145.19.
Several equities research analysts have recently issued reports on the stock. William Blair restated a “buy” rating on shares of Seattle Genetics in a research note on Friday, April 3rd. Oppenheimer raised their price objective on shares of Seattle Genetics from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. HC Wainwright raised their price objective on shares of Seattle Genetics from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Royal Bank of Canada raised their price objective on shares of Seattle Genetics from $148.00 to $149.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Stifel Nicolaus raised their price objective on shares of Seattle Genetics from $120.00 to $127.00 and gave the stock a “hold” rating in a research note on Friday, May 1st.
In other news, Director Marc E. Lippman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $152.03, for a total transaction of $152,030.00. Following the sale, the director now owns 48,668 shares in the company, valued at approximately $7,398,996.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Roger D. Dansey sold 11,912 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $164.50, for a total value of $1,959,524.00. The disclosure for this sale can be found here. Insiders have sold a total of 700,756 shares of company stock worth $110,414,053 in the last quarter. 31.10% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp increased its holdings in shares of Seattle Genetics by 206.5% during the 1st quarter. Synovus Financial Corp now owns 331 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 223 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Seattle Genetics in the 4th quarter valued at $39,000. Exchange Traded Concepts LLC grew its holdings in Seattle Genetics by 387.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 458 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 364 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Seattle Genetics by 66.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 500 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 200 shares in the last quarter. Finally, CSat Investment Advisory L.P. grew its holdings in Seattle Genetics by 20.2% in the 1st quarter. CSat Investment Advisory L.P. now owns 624 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 105 shares in the last quarter. 94.33% of the stock is currently owned by institutional investors and hedge funds.
SGEN stock traded down $2.27 during midday trading on Tuesday, hitting $165.59. 1,384,245 shares of the company traded hands, compared to its average volume of 1,240,558. Seattle Genetics has a twelve month low of $63.02 and a twelve month high of $175.64. The business has a 50 day simple moving average of $157.52 and a 200-day simple moving average of $126.99.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.17). Seattle Genetics had a negative net margin of 32.81% and a negative return on equity of 16.51%. The company had revenue of $234.51 million for the quarter, compared to analyst estimates of $207.59 million. During the same quarter last year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities analysts expect that Seattle Genetics will post -2.8 EPS for the current fiscal year.
Seattle Genetics Company Profile
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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