Seattle Genetics (SGEN) Raised to Hold at BidaskClub

Seattle Genetics (NASDAQ:SGEN) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.

A number of other equities analysts also recently commented on SGEN. Needham & Company LLC reiterated a “buy” rating and issued a $74.00 target price (up from $72.00) on shares of Seattle Genetics in a report on Wednesday, February 7th. HC Wainwright reiterated a “buy” rating on shares of Seattle Genetics in a report on Wednesday, February 7th. Royal Bank of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Seattle Genetics in a report on Tuesday, March 20th. TheStreet downgraded shares of Seattle Genetics from a “c-” rating to a “d+” rating in a report on Wednesday, February 28th. Finally, Cantor Fitzgerald set a $50.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a report on Tuesday, March 20th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $64.00.

NASDAQ:SGEN opened at $57.33 on Wednesday. Seattle Genetics has a 1-year low of $57.42 and a 1-year high of $58.75. The stock has a market capitalization of $9.07 billion, a P/E ratio of -65.15 and a beta of 1.84.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, April 26th. The biotechnology company reported ($0.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.31). Seattle Genetics had a negative return on equity of 29.74% and a negative net margin of 34.51%. The business had revenue of $140.59 million during the quarter, compared to analysts’ expectations of $119.04 million. During the same period last year, the company earned ($0.42) earnings per share. The firm’s revenue was up 28.8% compared to the same quarter last year. analysts anticipate that Seattle Genetics will post -1.68 EPS for the current year.

In other news, insider Vaughn B. Himes sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $58.12, for a total transaction of $290,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bros. Advisors Lp Baker acquired 306,917 shares of the business’s stock in a transaction dated Tuesday, May 1st. The shares were bought at an average price of $51.36 per share, for a total transaction of $15,763,257.12. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 972,105 shares of company stock worth $51,109,391 and have sold 84,953 shares worth $4,622,291. Corporate insiders own 33.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SGEN. American International Group Inc. acquired a new position in shares of Seattle Genetics during the fourth quarter valued at about $121,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of Seattle Genetics during the first quarter valued at about $121,000. Envestnet Asset Management Inc. increased its holdings in shares of Seattle Genetics by 82.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,861 shares of the biotechnology company’s stock valued at $153,000 after acquiring an additional 1,294 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Seattle Genetics by 128.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,995 shares of the biotechnology company’s stock valued at $209,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Seattle Genetics by 35.2% during the first quarter. Daiwa Securities Group Inc. now owns 4,395 shares of the biotechnology company’s stock valued at $230,000 after acquiring an additional 1,145 shares in the last quarter. Hedge funds and other institutional investors own 92.98% of the company’s stock.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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