Seattle Genetics, Inc. (SGEN) Stock Rating Reaffirmed by Guggenheim

Seattle Genetics, Inc. (NASDAQ:SGEN)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a note issued to investors on Monday. They presently have a $72.00 target price on the biotechnology company’s stock. Guggenheim’s price target would suggest a potential upside of 15.46% from the company’s current price.

Other research analysts have also issued reports about the stock. BidaskClub lowered shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. ValuEngine lowered shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Cantor Fitzgerald restated a “hold” rating and issued a $43.00 price objective on shares of Seattle Genetics in a research note on Monday, June 26th. William Blair restated an “outperform” rating on shares of Seattle Genetics in a research note on Monday, June 26th. Finally, Royal Bank Of Canada began coverage on shares of Seattle Genetics in a research note on Thursday, September 14th. They issued an “outperform” rating and a $58.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Seattle Genetics presently has a consensus rating of “Hold” and an average price target of $61.65.

Shares of Seattle Genetics (NASDAQ SGEN) opened at 62.36 on Monday. The firm’s market capitalization is $8.92 billion. The firm’s 50-day moving average price is $56.76 and its 200 day moving average price is $57.61. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. The company had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. Seattle Genetics’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.23) earnings per share. Analysts anticipate that Seattle Genetics will post ($1.68) earnings per share for the current fiscal year.

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In other Seattle Genetics news, CEO Clay B. Siegall sold 25,506 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $47.89, for a total transaction of $1,221,482.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Jonathan G. Drachman sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $47.54, for a total transaction of $475,400.00. The disclosure for this sale can be found here. Insiders have sold 183,761 shares of company stock worth $9,494,450 over the last 90 days. 34.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SGEN. Ameriprise Financial Inc. grew its position in Seattle Genetics by 157.4% during the first quarter. Ameriprise Financial Inc. now owns 59,125 shares of the biotechnology company’s stock worth $3,717,000 after buying an additional 36,157 shares during the period. Neuberger Berman Group LLC grew its position in Seattle Genetics by 0.5% during the first quarter. Neuberger Berman Group LLC now owns 12,630 shares of the biotechnology company’s stock worth $794,000 after buying an additional 59 shares during the period. Wellington Management Group LLP grew its position in Seattle Genetics by 55.5% during the first quarter. Wellington Management Group LLP now owns 82,463 shares of the biotechnology company’s stock worth $5,184,000 after buying an additional 29,420 shares during the period. Teachers Advisors LLC grew its position in Seattle Genetics by 24.0% during the first quarter. Teachers Advisors LLC now owns 356,948 shares of the biotechnology company’s stock worth $22,438,000 after buying an additional 69,140 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Seattle Genetics by 27.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,171 shares of the biotechnology company’s stock worth $262,000 after buying an additional 906 shares during the period. Institutional investors own 97.64% of the company’s stock.

Seattle Genetics Company Profile

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).

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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