A number of other research analysts have also recently commented on the stock. Barclays PLC cut shares of Seattle Genetics from an overweight rating to an equal weight rating and upped their target price for the company from $53.00 to $70.00 in a research report on Tuesday, November 29th. Cowen and Company reaffirmed a hold rating and issued a $47.00 target price on shares of Seattle Genetics in a research report on Monday, December 12th. TheStreet raised shares of Seattle Genetics from a sell rating to a hold rating in a research report on Friday, October 28th. Leerink Swann reaffirmed an outperform rating and issued a $62.00 target price on shares of Seattle Genetics in a research report on Monday, October 24th. Finally, RBC Capital Markets set a $80.00 target price on shares of Seattle Genetics and gave the company a buy rating in a research report on Thursday, January 5th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $58.60.
Shares of Seattle Genetics (NASDAQ:SGEN) traded up 2.6303% during trading on Friday, hitting $61.7424. 73,239 shares of the company traded hands. The company’s market capitalization is $8.76 billion. Seattle Genetics has a 52 week low of $26.98 and a 52 week high of $75.36. The company has a 50 day moving average price of $58.10 and a 200 day moving average price of $56.04.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, February 9th. The company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by $0.05. Seattle Genetics had a negative net margin of 33.51% and a negative return on equity of 20.86%. The company earned $105.30 million during the quarter, compared to analyst estimates of $106.49 million. During the same period in the previous year, the company earned ($0.18) EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts expect that Seattle Genetics will post ($1.73) earnings per share for the current year.
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In related news, EVP Darren S. Cline sold 10,000 shares of the stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $63.38, for a total transaction of $633,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clay B. Siegall sold 14,465 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $61.54, for a total value of $890,176.10. Following the sale, the insider now directly owns 640,477 shares of the company’s stock, valued at $39,414,954.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,430 shares of company stock valued at $5,144,955. Corporate insiders own 33.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SGEN. MSI Financial Services Inc increased its stake in Seattle Genetics by 114.0% in the third quarter. MSI Financial Services Inc now owns 1,866 shares of the company’s stock worth $101,000 after buying an additional 994 shares during the period. First National Bank of Omaha acquired a new stake in Seattle Genetics during the third quarter worth approximately $201,000. World Asset Management Inc acquired a new stake in Seattle Genetics during the third quarter worth approximately $206,000. M&T Bank Corp acquired a new stake in Seattle Genetics during the third quarter worth approximately $214,000. Finally, Bristlecone Advisors LLC acquired a new stake in Seattle Genetics during the third quarter worth approximately $227,000. 98.43% of the stock is owned by institutional investors.
About Seattle Genetics
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).
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