Seattle Genetics, Inc. (SGEN) Earns “Neutral” Rating from Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) reaffirmed their neutral rating on shares of Seattle Genetics, Inc. (NASDAQ:SGEN) in a research report sent to investors on Friday morning, MarketBeat.com reports. Goldman Sachs Group, Inc. (The) currently has a $64.00 price objective on the biotechnology company’s stock.

A number of other research analysts also recently commented on the company. Cantor Fitzgerald reissued a hold rating and issued a $43.00 price target on shares of Seattle Genetics in a report on Monday, June 26th. ValuEngine downgraded Seattle Genetics from a hold rating to a sell rating in a report on Friday, July 28th. Jefferies Group LLC reissued a buy rating and issued a $53.00 price target on shares of Seattle Genetics in a report on Thursday, July 27th. Cann reissued a hold rating on shares of Seattle Genetics in a report on Tuesday, August 29th. Finally, William Blair reissued an outperform rating on shares of Seattle Genetics in a report on Monday, June 26th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $60.80.

Shares of Seattle Genetics (NASDAQ:SGEN) opened at 57.51 on Friday. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $75.36. The stock’s 50 day moving average price is $52.40 and its 200 day moving average price is $57.79. The firm’s market cap is $8.23 billion.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. The firm had revenue of $108.20 million during the quarter, compared to the consensus estimate of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. Seattle Genetics’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) earnings per share. Equities research analysts predict that Seattle Genetics will post ($1.68) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/seattle-genetics-inc-sgen-earns-neutral-rating-from-goldman-sachs-group-inc-the.html.

In other news, CMO Jonathan G. Drachman sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $54.54, for a total transaction of $545,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $53.49, for a total value of $1,007,323.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,929 shares of company stock worth $8,342,308. 34.70% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of Seattle Genetics by 31.3% during the 2nd quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after purchasing an additional 750 shares during the period. Meeder Asset Management Inc. raised its position in shares of Seattle Genetics by 1,580.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 3,715 shares during the period. DRW Securities LLC acquired a new stake in shares of Seattle Genetics during the 2nd quarter worth approximately $207,000. Andra AP fonden acquired a new stake in shares of Seattle Genetics during the 2nd quarter worth approximately $212,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Seattle Genetics by 6,835.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the biotechnology company’s stock worth $223,000 a

A number of other research analysts also recently commented on the company. Cantor Fitzgerald reissued a hold rating and issued a $43.00 price target on shares of Seattle Genetics in a report on Monday, June 26th. ValuEngine downgraded Seattle Genetics from a hold rating to a sell rating in a report on Friday, July 28th. Jefferies Group LLC reissued a buy rating and issued a $53.00 price target on shares of Seattle Genetics in a report on Thursday, July 27th. Cann reissued a hold rating on shares of Seattle Genetics in a report on Tuesday, August 29th. Finally, William Blair reissued an outperform rating on shares of Seattle Genetics in a report on Monday, June 26th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $60.80.

Shares of Seattle Genetics (NASDAQ:SGEN) opened at 57.51 on Friday. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $75.36. The stock’s 50 day moving average price is $52.40 and its 200 day moving average price is $57.79. The firm’s market cap is $8.23 billion.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. The firm had revenue of $108.20 million during the quarter, compared to the consensus estimate of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. Seattle Genetics’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) earnings per share. Equities research analysts predict that Seattle Genetics will post ($1.68) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/09/seattle-genetics-inc-sgen-earns-neutral-rating-from-goldman-sachs-group-inc-the.html.

In other news, CMO Jonathan G. Drachman sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $54.54, for a total transaction of $545,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $53.49, for a total value of $1,007,323.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,929 shares of company stock worth $8,342,308. 34.70% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of Seattle Genetics by 31.3% during the 2nd quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after purchasing an additional 750 shares during the period. Meeder Asset Management Inc. raised its position in shares of Seattle Genetics by 1,580.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 3,715 shares during the period. DRW Securities LLC acquired a new stake in shares of Seattle Genetics during the 2nd quarter worth approximately $207,000. Andra AP fonden acquired a new stake in shares of Seattle Genetics during the 2nd quarter worth approximately $212,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Seattle Genetics by 6,835.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 4,238 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

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).

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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

Leave a Reply