A number of other brokerages also recently issued reports on SGEN. SunTrust Banks upgraded Seattle Genetics from a hold rating to a buy rating and boosted their price objective for the company from $60.00 to $80.00 in a research note on Monday, June 11th. BidaskClub downgraded Seattle Genetics from a buy rating to a hold rating in a research note on Saturday, June 16th. Cantor Fitzgerald set a $50.00 price objective on Seattle Genetics and gave the company a hold rating in a research note on Thursday, April 26th. Barclays started coverage on Seattle Genetics in a research note on Tuesday, March 20th. They set an overweight rating and a $74.00 price objective for the company. Finally, ValuEngine downgraded Seattle Genetics from a buy rating to a hold rating in a research note on Monday, June 18th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Seattle Genetics presently has an average rating of Buy and a consensus price target of $66.57.
Shares of Seattle Genetics opened at $66.39 on Thursday, MarketBeat.com reports. The company has a market cap of $10.28 billion, a P/E ratio of -75.44 and a beta of 1.91. Seattle Genetics has a 12-month low of $45.31 and a 12-month high of $69.71.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, April 26th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.31). The company had revenue of $140.59 million for the quarter, compared to the consensus estimate of $119.04 million. Seattle Genetics had a negative net margin of 34.51% and a negative return on equity of 29.74%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.42) earnings per share. research analysts predict that Seattle Genetics will post -1.68 earnings per share for the current year.
In related news, EVP Darren S. Cline sold 12,054 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $69.00, for a total value of $831,726.00. Following the transaction, the executive vice president now directly owns 72,723 shares of the company’s stock, valued at approximately $5,017,887. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $65.12, for a total value of $1,226,339.84. The disclosure for this sale can be found here. Over the last three months, insiders purchased 972,105 shares of company stock worth $51,109,391 and sold 86,550 shares worth $5,050,214. 33.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SGEN. American International Group Inc. purchased a new stake in shares of Seattle Genetics during the 4th quarter worth approximately $121,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Seattle Genetics during the 1st quarter worth approximately $121,000. Envestnet Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 1,294 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Seattle Genetics by 128.9% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,995 shares of the biotechnology company’s stock worth $209,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Seattle Genetics by 35.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,395 shares of the biotechnology company’s stock worth $230,000 after acquiring an additional 1,145 shares in the last quarter.
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.
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