Seattle Genetics’ (SGEN) Buy Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their buy rating on shares of Seattle Genetics (NASDAQ:SGEN) in a research report sent to investors on Thursday morning.

A number of other research firms also recently weighed in on SGEN. Barclays upped their price target on shares of Seattle Genetics from $80.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, October 3rd. Royal Bank of Canada upped their price target on shares of Seattle Genetics to $98.00 and gave the stock an outperform rating in a research note on Tuesday, October 2nd. reaffirmed a hold rating on shares of Seattle Genetics in a research note on Monday, October 1st. Leerink Swann began coverage on shares of Seattle Genetics in a research note on Monday, September 24th. They issued an outperform rating and a $101.00 price target on the stock. Finally, BidaskClub raised shares of Seattle Genetics from a buy rating to a strong-buy rating in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $79.75.

Shares of SGEN traded up $0.41 during mid-day trading on Thursday, reaching $71.41. The company’s stock had a trading volume of 587,486 shares, compared to its average volume of 1,104,850. The firm has a market capitalization of $11.11 billion, a P/E ratio of -81.15 and a beta of 2.04. Seattle Genetics has a 1 year low of $47.75 and a 1 year high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, October 25th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.15). Seattle Genetics had a negative return on equity of 19.13% and a negative net margin of 26.58%. The company had revenue of $169.42 million during the quarter, compared to analyst estimates of $164.75 million. On average, equities analysts expect that Seattle Genetics will post -1.44 earnings per share for the current year.

In other Seattle Genetics news, EVP Darren S. Cline sold 4,167 shares of the stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $56.68, for a total transaction of $236,185.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Clay B. Siegall sold 20,148 shares of the stock in a transaction on Tuesday, January 8th. The stock was sold at an average price of $65.73, for a total transaction of $1,324,328.04. The disclosure for this sale can be found here. Insiders have sold 81,611 shares of company stock worth $5,080,123 over the last three months. Company insiders own 33.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue increased its position in Seattle Genetics by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 13,381 shares of the biotechnology company’s stock worth $758,000 after buying an additional 257 shares during the last quarter. IFM Investors Pty Ltd increased its position in Seattle Genetics by 14.6% during the third quarter. IFM Investors Pty Ltd now owns 5,992 shares of the biotechnology company’s stock worth $462,000 after buying an additional 762 shares during the last quarter. Aperio Group LLC increased its position in Seattle Genetics by 2.8% during the third quarter. Aperio Group LLC now owns 28,952 shares of the biotechnology company’s stock worth $2,233,000 after buying an additional 802 shares during the last quarter. Shell Asset Management Co. increased its position in Seattle Genetics by 19.4% during the third quarter. Shell Asset Management Co. now owns 7,364 shares of the biotechnology company’s stock worth $568,000 after buying an additional 1,198 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Seattle Genetics by 11.6% during the third quarter. Advisors Asset Management Inc. now owns 11,764 shares of the biotechnology company’s stock worth $907,000 after buying an additional 1,222 shares during the last quarter.

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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