Seattle Genetics, Inc. (SGEN) Receives $80.82 Average Target Price from Analysts

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) have earned an average recommendation of “Buy” from the nineteen research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $80.82.

Several analysts have weighed in on SGEN shares. Guggenheim started coverage on shares of Seattle Genetics in a research report on Monday, September 17th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their target price on shares of Seattle Genetics to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 2nd. Piper Jaffray Companies reissued a “neutral” rating on shares of Seattle Genetics in a research report on Friday, September 7th. HC Wainwright reissued a “buy” rating and set a $77.00 target price on shares of Seattle Genetics in a research report on Thursday, July 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Seattle Genetics from $66.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th.

In other news, insider Clay B. Siegall sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $74.95, for a total transaction of $1,873,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vaughn B. Himes sold 5,530 shares of the company’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $74.23, for a total transaction of $410,491.90. The disclosure for this sale can be found here. In the last three months, insiders sold 130,382 shares of company stock valued at $9,797,687. 33.80% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SGEN. Harvest Fund Management Co. Ltd purchased a new stake in shares of Seattle Genetics in the third quarter valued at about $104,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in Seattle Genetics in the second quarter valued at about $139,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Seattle Genetics by 128.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,995 shares of the biotechnology company’s stock valued at $209,000 after buying an additional 2,250 shares during the last quarter. Rothschild Investment Corp IL acquired a new position in Seattle Genetics in the second quarter valued at about $211,000. Finally, Hollencrest Capital Management acquired a new position in Seattle Genetics in the third quarter valued at about $216,000.

NASDAQ:SGEN traded down $1.69 during trading hours on Thursday, hitting $56.45. 856,711 shares of the company were exchanged, compared to its average volume of 1,302,611. The company has a market cap of $9.04 billion, a PE ratio of -64.15 and a beta of 2.18. Seattle Genetics has a 52-week low of $47.75 and a 52-week high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, October 25th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.15). The company had revenue of $169.42 million for the quarter, compared to analysts’ expectations of $164.75 million. Seattle Genetics had a negative return on equity of 19.13% and a negative net margin of 26.58%. As a group, research analysts anticipate that Seattle Genetics will post -1.4 earnings per share for the current fiscal year.

Seattle Genetics Company Profile

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.

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Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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