Seattle Genetics (NASDAQ:SGEN)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Marketbeat reports. They presently have a $200.00 target price on the biotechnology company’s stock, up from their prior target price of $175.00. HC Wainwright’s target price points to a potential upside of 20.29% from the stock’s previous close.
SGEN has been the topic of a number of other reports. SVB Leerink lifted their price target on Seattle Genetics from $155.00 to $167.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. BMO Capital Markets lifted their price target on Seattle Genetics from $174.00 to $186.00 in a report on Tuesday, June 30th. Zacks Investment Research downgraded Seattle Genetics from a “buy” rating to a “hold” rating and set a $132.00 price target on the stock. in a report on Wednesday, April 15th. Goldman Sachs Group upgraded Seattle Genetics from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley boosted their target price on Seattle Genetics from $111.00 to $149.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $150.16.
Shares of SGEN stock traded down $4.87 on Friday, reaching $166.27. 2,346,344 shares of the company’s stock were exchanged, compared to its average volume of 976,297. The company’s fifty day simple moving average is $169.28 and its 200 day simple moving average is $137.30. The stock has a market capitalization of $28.78 billion, a PE ratio of -110.11 and a beta of 1.46. Seattle Genetics has a 52 week low of $65.44 and a 52 week high of $187.99.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, July 30th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.46. Seattle Genetics had a negative return on equity of 18.34% and a negative net margin of 25.17%. The business had revenue of $278.00 million for the quarter, compared to the consensus estimate of $256.74 million. Equities analysts predict that Seattle Genetics will post -2.69 EPS for the current year.
In other 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 value of $4,085,235.84. Following the completion of the transaction, the chief executive officer now owns 761,170 shares of the company’s stock, valued at approximately $126,415,113.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bros. Advisors Lp Baker sold 500,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $158.50, for a total value of $79,250,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 721,041 shares of company stock valued at $115,476,023. Insiders own 31.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. acquired a new position in Seattle Genetics in the 4th quarter worth about $4,456,000. Huntington National Bank acquired a new position in Seattle Genetics in the 2nd quarter worth about $28,000. Signaturefd LLC raised its holdings in Seattle Genetics by 70.0% in the 2nd quarter. Signaturefd LLC now owns 170 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 70 shares during the period. Ellevest Inc. raised its holdings in Seattle Genetics by 753.3% in the 2nd quarter. Ellevest Inc. now owns 256 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 226 shares during the period. Finally, Baldwin Brothers Inc. MA raised its holdings in Seattle Genetics by 1,000.0% in the 2nd quarter. Baldwin Brothers Inc. MA now owns 275 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 250 shares during the period. 94.61% of the stock is owned by institutional investors.
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.
See Also: What is FinTech?
Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.