Cantor Fitzgerald set a $46.00 price objective on Seattle Genetics, Inc. (NASDAQ:SGEN) in a research report sent to investors on Tuesday morning. The brokerage currently has a hold rating on the biotechnology company’s stock.
A number of other research analysts have also weighed in on the company. Oppenheimer Holdings, Inc. began coverage on Seattle Genetics in a report on Tuesday. They issued a hold rating on the stock. Zacks Investment Research raised Seattle Genetics from a hold rating to a buy rating and set a $64.00 target price on the stock in a report on Tuesday. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and set a $64.00 target price on shares of Seattle Genetics in a report on Friday, October 6th. SunTrust Banks, Inc. reaffirmed a hold rating and set a $45.00 target price on shares of Seattle Genetics in a report on Wednesday, October 4th. Finally, Royal Bank Of Canada initiated coverage on Seattle Genetics in a report on Thursday, September 14th. They set an outperform rating and a $58.00 target price on the stock. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $61.00.
Seattle Genetics (NASDAQ SGEN) opened at 57.715 on Tuesday. The firm has a 50-day moving average price of $53.05 and a 200 day moving average price of $57.64. The stock’s market capitalization is $8.25 billion. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. The business had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.23) earnings per share. Equities analysts anticipate that Seattle Genetics will post ($1.69) earnings per share for the current year.
In other news, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $53.49, for a total value of $1,007,323.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Jonathan G. Drachman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $54.54, for a total value of $545,400.00. The disclosure for this sale can be found here. Insiders have sold 164,929 shares of company stock worth $8,342,308 in the last quarter. 34.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGEN. BlackRock Inc. lifted its position in shares of Seattle Genetics by 6,338.2% in the first quarter. BlackRock Inc. now owns 7,267,660 shares of the biotechnology company’s stock valued at $456,845,000 after acquiring an additional 7,154,776 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Seattle Genetics by 8,672.2% in the second quarter. Janus Henderson Group PLC now owns 704,673 shares of the biotechnology company’s stock valued at $36,460,000 after acquiring an additional 696,640 shares in the last quarter. Capital International Investors lifted its position in shares of Seattle Genetics by 34.3% in the second quarter. Capital International Investors now owns 2,724,589 shares of the biotechnology company’s stock valued at $140,970,000 after acquiring an additional 695,986 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Seattle Genetics in the first quarter valued at approximately $29,521,000. Finally, Janus Capital Management LLC lifted its position in shares of Seattle Genetics by 321.2% in the first quarter. Janus Capital Management LLC now owns 527,400 shares of the biotechnology company’s stock valued at $33,153,000 after acquiring an additional 402,200 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.
Seattle Genetics Company Profile
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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