Seattle Genetics (SGEN) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Seattle Genetics (NASDAQ:SGEN) from a sell rating to a strong sell rating in a research report report published on Wednesday.

Several other equities analysts have also commented on SGEN. Cantor Fitzgerald set a $50.00 price objective on shares of Seattle Genetics and gave the stock a hold rating in a report on Tuesday, March 20th. Cowen restated a hold rating on shares of Seattle Genetics in a report on Tuesday, March 13th. TheStreet lowered shares of Seattle Genetics from a c- rating to a d+ rating in a report on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of Seattle Genetics from $69.00 to $67.00 and set an overweight rating on the stock in a report on Wednesday, March 21st. Finally, SunTrust Banks restated a hold rating and issued a $60.00 price objective on shares of Seattle Genetics in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $64.00.

How to Become a New Pot Stock Millionaire

NASDAQ:SGEN opened at $50.07 on Wednesday. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.02. The company had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. Seattle Genetics’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.39) EPS. equities analysts expect that Seattle Genetics will post -1.57 EPS for the current year.

In related news, CMO Jonathan G. Drachman sold 10,457 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $52.83, for a total transaction of $552,443.31. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $51.71, for a total transaction of $973,802.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,953 shares of company stock worth $3,833,188. 34.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SGEN. American International Group Inc. purchased a new stake in Seattle Genetics during the 4th quarter worth approximately $121,000. Envestnet Asset Management Inc. increased its stake in Seattle Genetics by 82.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,861 shares of the biotechnology company’s stock worth $153,000 after buying an additional 1,294 shares during the period. Virtu Financial LLC purchased a new stake in Seattle Genetics during the 3rd quarter worth approximately $203,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Seattle Genetics during the 3rd quarter worth approximately $208,000. Finally, Trexquant Investment LP purchased a new stake in Seattle Genetics during the 3rd quarter worth approximately $226,000. 93.10% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This article was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this article on another site, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3340633/seattle-genetics-sgen-rating-lowered-to-strong-sell-at-bidaskclub.html.

Seattle Genetics Company Profile

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Financial Review: Torchmark  and Its Competitors
Financial Review: Torchmark and Its Competitors
TSO3  Sets New 52-Week Low at $0.90
TSO3 Sets New 52-Week Low at $0.90
Net 1 UEPS Technologies  Sets New 12-Month High and Low at $8.62
Net 1 UEPS Technologies Sets New 12-Month High and Low at $8.62
Contrasting LSB Industries  and Praxair
Contrasting LSB Industries and Praxair
Head to Head Survey: American Renal Associates  and Catasys
Head to Head Survey: American Renal Associates and Catasys
Brokerages Set Sun Life Financial  PT at $58.67
Brokerages Set Sun Life Financial PT at $58.67


Leave a Reply

© 2006-2018 Ticker Report. Google+.