Seattle Genetics, Inc. (NASDAQ:SGEN) had its price target lifted by stock analysts at Royal Bank Of Canada from $68.00 to $69.00 in a research note issued on Monday, November 13th, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 16.85% from the company’s previous close.
A number of other analysts have also issued reports on SGEN. Jefferies Group LLC reissued a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a research note on Thursday, July 27th. ValuEngine lowered shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Cowen and Company reissued a “hold” rating and set a $54.00 target price on shares of Seattle Genetics in a research note on Friday, July 28th. BidaskClub lowered shares of Seattle Genetics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Cantor Fitzgerald set a $46.00 target price on shares of Seattle Genetics and gave the company a “hold” rating in a research note on Wednesday, August 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Seattle Genetics presently has a consensus rating of “Hold” and a consensus target price of $63.53.
Seattle Genetics (SGEN) opened at $59.05 on Monday. Seattle Genetics has a one year low of $45.31 and a one year high of $72.75.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.23. The company had revenue of $135.29 million during the quarter, compared to analyst estimates of $112.76 million. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. Seattle Genetics’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.23) earnings per share. sell-side analysts predict that Seattle Genetics will post -0.93 earnings per share for the current year.
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In other news, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $61.18, for a total transaction of $1,152,141.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Jonathan G. Drachman sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $47.54, for a total transaction of $475,400.00. The disclosure for this sale can be found here. Insiders sold 263,165 shares of company stock valued at $14,403,647 over the last quarter. 34.70% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SGEN. PNC Financial Services Group Inc. increased its holdings in shares of Seattle Genetics by 27.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,171 shares of the biotechnology company’s stock valued at $262,000 after acquiring an additional 906 shares in the last quarter. Morgan Stanley increased its holdings in Seattle Genetics by 10.9% in the 1st quarter. Morgan Stanley now owns 157,334 shares of the biotechnology company’s stock worth $9,890,000 after buying an additional 15,458 shares during the period. AQR Capital Management LLC increased its holdings in Seattle Genetics by 37.5% in the 1st quarter. AQR Capital Management LLC now owns 52,674 shares of the biotechnology company’s stock worth $3,311,000 after buying an additional 14,359 shares during the period. Tudor Investment Corp ET AL acquired a new position in Seattle Genetics in the 1st quarter worth approximately $298,000. Finally, Nuveen Asset Management LLC increased its holdings in Seattle Genetics by 90.4% in the 1st quarter. Nuveen Asset Management LLC now owns 24,226 shares of the biotechnology company’s stock worth $1,523,000 after buying an additional 11,500 shares during the period. Hedge funds and other institutional investors own 96.93% 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).
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