Seattle Genetics (NASDAQ:SGEN) had its price target upped by Royal Bank of Canada from $175.00 to $191.00 in a research note published on Monday, The Fly reports. They currently have an outperform rating on the biotechnology company’s stock. The analysts noted that the move was a valuation call.
Other equities analysts have also issued reports about the company. SVB Leerink boosted their price target on Seattle Genetics from $167.00 to $173.00 and gave the company an outperform rating in a research note on Friday, July 31st. HC Wainwright reaffirmed a buy rating and set a $200.00 target price (up from $175.00) on shares of Seattle Genetics in a research report on Friday, July 31st. Needham & Company LLC upped their target price on Seattle Genetics from $163.00 to $188.00 and gave the stock a buy rating in a research report on Tuesday, June 30th. BidaskClub lowered Seattle Genetics from a hold rating to a sell rating in a research report on Thursday, August 13th. Finally, Goldman Sachs Group raised Seattle Genetics from a buy rating to a conviction-buy rating in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $153.37.
Seattle Genetics stock opened at $176.62 on Monday. Seattle Genetics has a one year low of $69.89 and a one year high of $187.99. The stock’s 50 day moving average is $157.68 and its 200 day moving average is $147.48. The firm has a market cap of $30.73 billion, a P/E ratio of -116.97 and a beta of 1.26.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, July 30th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.46. Seattle Genetics had a negative return on equity of 18.32% and a negative net margin of 25.17%. The firm had revenue of $278.00 million for the quarter, compared to analyst estimates of $256.74 million. As a group, analysts predict that Seattle Genetics will post -2.26 EPS for the current year.
In other news, EVP Jean I. Liu sold 11,610 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $170.00, for a total transaction of $1,973,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Roger D. Dansey sold 450 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $157.79, for a total value of $71,005.50. The disclosure for this sale can be found here. Insiders have sold a total of 197,134 shares of company stock valued at $32,111,183 in the last quarter. 31.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SGEN. Huntington National Bank purchased a new stake in Seattle Genetics during the 2nd quarter worth about $28,000. Signaturefd LLC lifted its holdings in Seattle Genetics by 70.0% during the 2nd quarter. Signaturefd LLC now owns 170 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 70 shares in the last quarter. HBC Financial Services PLLC purchased a new stake in Seattle Genetics during the 2nd quarter worth about $31,000. Ellevest Inc. lifted its holdings in Seattle Genetics by 753.3% during the 2nd quarter. Ellevest Inc. now owns 256 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 226 shares in the last quarter. Finally, Baldwin Brothers Inc. MA lifted its holdings in Seattle Genetics by 1,000.0% during the 2nd quarter. Baldwin Brothers Inc. MA now owns 275 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 250 shares in the last quarter. 91.96% of the stock is currently owned by institutional investors and hedge funds.
Seattle Genetics Company Profile
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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