Seattle Genetics, Inc. (NASDAQ:SGEN) has been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $63.53.
A number of analysts recently commented on SGEN shares. Cantor Fitzgerald set a $50.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. upgraded shares of Seattle Genetics from a “neutral” rating to an “overweight” rating and set a $60.00 target price on the stock in a report on Wednesday, February 14th. Morgan Stanley boosted their target price on shares of Seattle Genetics from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Tuesday, October 31st. Royal Bank of Canada boosted their target price on shares of Seattle Genetics from $68.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, November 13th. Finally, HC Wainwright reiterated a “buy” rating on shares of Seattle Genetics in a report on Wednesday, February 7th.
In other news, insider Vaughn B. Himes sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $59.97, for a total transaction of $599,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Eric Dobmeier sold 3,729 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $58.75, for a total transaction of $219,078.75. The disclosure for this sale can be found here. Insiders have sold 70,225 shares of company stock worth $3,772,766 in the last 90 days. 34.70% of the stock is owned by company insiders.
Seattle Genetics (NASDAQ SGEN) traded down $0.37 during midday trading on Friday, hitting $55.55. 489,543 shares of the company were exchanged, compared to its average volume of 1,284,463. Seattle Genetics has a twelve month low of $45.31 and a twelve month high of $71.32. The company has a market cap of $8,742.61, a P/E ratio of -63.13 and a beta of 2.08.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. The business had revenue of $129.61 million for the quarter, compared to the consensus estimate of $123.99 million. During the same period in the previous year, the firm earned ($0.39) EPS. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. sell-side analysts predict that Seattle Genetics will post -1.59 earnings per share for the current fiscal year.
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 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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