Seattle Genetics (SGEN) – Investment Analysts’ Recent Ratings Changes

Seattle Genetics (NASDAQ: SGEN) has recently received a number of price target changes and ratings updates:

  • 8/2/2017 – Seattle Genetics was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/28/2017 – Seattle Genetics was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 7/28/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $54.00 price target on the stock.
  • 7/27/2017 – Seattle Genetics had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $53.00 price target on the stock.
  • 6/28/2017 – Seattle Genetics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/27/2017 – Seattle Genetics had its “neutral” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $48.00 price target on the stock.
  • 6/27/2017 – Seattle Genetics had its “neutral” rating reaffirmed by analysts at J P Morgan Chase & Co.
  • 6/26/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $43.00 price target on the stock. They wrote, “The Phase III ECHELON-1 study in previously untreated patients with advanced classical Hodgkin lymphoma met its primary endpoint of modified PFS (82.1% versus 77.2% at two years).””
  • 6/26/2017 – Seattle Genetics had its “outperform” rating reaffirmed by analysts at William Blair.
  • 6/23/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Barclays PLC.
  • 6/21/2017 – Seattle Genetics had its price target lowered by analysts at Morgan Stanley from $70.00 to $64.00. They now have an “overweight” rating on the stock.
  • 6/20/2017 – Seattle Genetics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $72.00 price target on the stock.
  • 6/20/2017 – Seattle Genetics had its “neutral” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $55.00 price target on the stock, down previously from $58.00.
  • 6/19/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Cann. They wrote, “Seattle Genetics announced today that it is discontinuing the phase III CASCADE clinical trial of vadastuximab talirine (SGN-CD33A) in frontline older acute myeloid leukemia (AML) patients. Seattle Genetics reported it took this action following consultation with the Independent Data Monitoring Committee (IDMC) and after reviewing unblinded data on June 16, 2017. As a result of the discontinuation of SGN-CD33A (vadastuximab talirine; 33A), we are removing estimated sales of SGN- CD33A from our model in 2020 and 2021.””
  • 6/19/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $54.00 price target on the stock, down previously from $61.00. They wrote, “SGEN announced this morning that following an interim safety look of 33A’s pivotal.””
  • 6/19/2017 – Seattle Genetics was given a new $43.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 6/15/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 6/13/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $58.00 price target on the stock. They wrote, “With top-line results for ECHELON-1 (Adcetris in 1L Hodgkin lymphoma) reading out at some point in 2017, we conducted a detailed analysis of the trial design and available data and interviewed a couple more KOLs to help frame expectations. We are also updating our model to better account for doc feedback and re-treatment rates among the various approved Adcetris settings. The bottom line is that we are bullish on the potential success of E-1 (70% in our model), which may offer a favorable trading opportunity into the data.””

Seattle Genetics, Inc. (NASDAQ:SGEN) traded down 5.17% during trading on Thursday, reaching $46.20. The company’s stock had a trading volume of 1,092,626 shares. Seattle Genetics, Inc. has a 52 week low of $42.58 and a 52 week high of $75.36. The stock’s market capitalization is $6.61 billion. The firm has a 50 day moving average of $53.13 and a 200 day moving average of $61.37.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company had revenue of $108.20 million for the quarter, compared to analysts’ expectations of $105.92 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts expect that Seattle Genetics, Inc. will post ($1.70) EPS for the current year.

In related news, insider Clay B. Siegall sold 10,423 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $65.21, for a total transaction of $679,683.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Darren S. Cline sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $49.19, for a total transaction of $295,140.00. The disclosure for this sale can be found here. Insiders have sold 57,259 shares of company stock worth $3,211,411 in the last quarter. Company insiders own 33.30% of the company’s stock.

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).

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