Seattle Genetics (NASDAQ:SGEN)'s stock had its "buy" rating reiterated by William Blair in a research report issued on Thursday, AnalystRatings.com reports.
Other equities analysts have also issued research reports about the stock. SVB Leerink increased their target price on shares of Seattle Genetics from $155.00 to $167.00 and gave the stock an "outperform" rating in a research report on Tuesday. Needham & Company LLC boosted their price objective on Seattle Genetics from $163.00 to $188.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays reissued a "hold" rating on shares of Seattle Genetics in a report on Sunday, May 3rd. Zacks Investment Research cut shares of Seattle Genetics from a "buy" rating to a "hold" rating and set a $132.00 price objective for the company. in a research note on Wednesday, April 15th. Finally, Oppenheimer raised their price target on shares of Seattle Genetics from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Seattle Genetics currently has an average rating of "Buy" and an average target price of $147.42.
Shares of NASDAQ:SGEN traded up $0.83 during mid-day trading on Thursday, reaching $168.35. The company had a trading volume of 13,497 shares, compared to its average volume of 1,256,838. Seattle Genetics has a one year low of $63.02 and a one year high of $175.64. The company's 50-day moving average price is $158.20 and its 200-day moving average price is $128.28. The firm has a market cap of $28.96 billion, a price-to-earnings ratio of -89.62 and a beta of 1.46.
Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.81) by ($0.17). The firm had revenue of $234.51 million during the quarter, compared to the consensus estimate of $207.59 million. Seattle Genetics had a negative net margin of 32.81% and a negative return on equity of 16.51%. The business's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, equities analysts expect that Seattle Genetics will post -2.8 EPS for the current fiscal year.
In related news, CEO Clay B. Siegall sold 24,598 shares of the business's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $166.08, for a total transaction of $4,085,235.84. Following the transaction, the chief executive officer now owns 761,170 shares in the company, valued at approximately $126,415,113.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Clay B. Siegall sold 28,472 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $120.01, for a total value of $3,416,924.72. The disclosure for this sale can be found here. Insiders have sold a total of 700,756 shares of company stock valued at $110,414,053 over the last 90 days. 31.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. bought a new stake in Seattle Genetics during the 4th quarter valued at approximately $4,456,000. Synovus Financial Corp lifted its stake in shares of Seattle Genetics by 206.5% in the 1st quarter. Synovus Financial Corp now owns 331 shares of the biotechnology company's stock valued at $38,000 after purchasing an additional 223 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Seattle Genetics by 387.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 458 shares of the biotechnology company's stock valued at $53,000 after purchasing an additional 364 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of Seattle Genetics by 66.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 500 shares of the biotechnology company's stock valued at $58,000 after purchasing an additional 200 shares in the last quarter. Finally, CSat Investment Advisory L.P. grew its stake in Seattle Genetics by 20.2% in the first quarter. CSat Investment Advisory L.P. now owns 624 shares of the biotechnology company's stock worth $72,000 after purchasing an additional 105 shares during the period. Institutional investors own 94.33% of the company's stock.
About Seattle Genetics
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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