Seattle Genetics (NASDAQ:SGEN) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday.
A number of other research analysts also recently weighed in on SGEN. ValuEngine upgraded Seattle Genetics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. TheStreet upgraded Seattle Genetics from a “d+” rating to a “c-” rating in a research note on Thursday, June 28th. Piper Jaffray Companies reaffirmed a “neutral” rating on shares of Seattle Genetics in a research report on Friday, September 7th. Zacks Investment Research raised Seattle Genetics from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, July 3rd. Finally, Needham & Company LLC raised their price objective on Seattle Genetics from $74.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $71.64.
SGEN stock opened at $77.26 on Wednesday. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of -87.80 and a beta of 1.80. Seattle Genetics has a twelve month low of $47.75 and a twelve month high of $78.82.
In related news, insider Vaughn B. Himes sold 5,530 shares of Seattle Genetics stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $74.23, for a total transaction of $410,491.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clay B. Siegall sold 25,514 shares of Seattle Genetics stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $74.23, for a total value of $1,893,904.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,318 shares of company stock valued at $8,503,437. 33.80% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Summit Trail Advisors LLC lifted its holdings in Seattle Genetics by 4,871.9% during the 1st quarter. Summit Trail Advisors LLC now owns 107,344 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 105,185 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in Seattle Genetics during the 2nd quarter worth approximately $139,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Seattle Genetics by 128.9% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,995 shares of the biotechnology company’s stock worth $209,000 after purchasing an additional 2,250 shares during the last quarter. Rothschild Investment Corp IL acquired a new stake in Seattle Genetics during the 2nd quarter worth approximately $211,000. Finally, American International Group Inc. raised its holdings in Seattle Genetics by 78.5% in the 1st quarter. American International Group Inc. now owns 4,045 shares of the biotechnology company’s stock valued at $212,000 after acquiring an additional 1,779 shares in 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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