Seattle Genetics (NASDAQ:SGEN)‘s stock had its “hold” rating restated by Oppenheimer in a note issued to investors on Thursday.
A number of other equities research analysts have also recently weighed in on the company. TheStreet upgraded Seattle Genetics from a “d” rating to a “c” rating in a report on Thursday, November 16th. Royal Bank Of Canada upped their price target on Seattle Genetics from $68.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, November 13th. Cann assumed coverage on Seattle Genetics in a report on Wednesday, November 8th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Seattle Genetics from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Monday, November 6th. Finally, Morgan Stanley increased their target price on Seattle Genetics from $64.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $63.53.
Shares of Seattle Genetics (SGEN) opened at $59.26 on Thursday. Seattle Genetics has a fifty-two week low of $45.31 and a fifty-two week high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.23. The business had revenue of $135.29 million for the quarter, compared to analysts’ expectations of $112.76 million. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.23) EPS. analysts predict that Seattle Genetics will post -0.93 EPS for the current fiscal year.
In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $53.49, for a total transaction of $1,007,323.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Todd E. Simpson sold 39,385 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,210 shares of company stock worth $9,237,281. Corporate insiders own 34.70% of the company’s stock.
Several institutional investors have recently modified their holdings of SGEN. Quantbot Technologies LP lifted its stake in shares of Seattle Genetics by 116.5% during the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 1,428 shares during the period. First Manhattan Co. lifted its stake 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. Bristlecone Advisors LLC purchased a new position in shares of Seattle Genetics during the 3rd quarter worth $180,000. Virtu Financial LLC purchased a new position in shares of Seattle Genetics during the 3rd quarter worth $203,000. Finally, DRW Securities LLC purchased a new position in shares of Seattle Genetics during the 2nd quarter worth $207,000. 98.96% of the stock is currently owned by institutional investors.
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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