Seattle Genetics (SGEN) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Seattle Genetics (NASDAQ:SGEN) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Several other equities analysts also recently weighed in on the stock. ValuEngine upgraded shares of Seattle Genetics from a buy rating to a strong-buy rating in a research note on Friday. Cann reiterated a hold rating on shares of Seattle Genetics in a research note on Monday, November 5th. TheStreet downgraded shares of Seattle Genetics from a c rating to a d+ rating in a research note on Thursday, October 25th. Barclays cut their price objective on shares of Seattle Genetics from $95.00 to $90.00 and set an overweight rating for the company in a research report on Friday, October 26th. Finally, Needham & Company LLC cut their price objective on shares of Seattle Genetics to $73.00 and set a buy rating for the company in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Seattle Genetics has an average rating of Buy and a consensus price target of $77.77.

SGEN opened at $62.58 on Friday. The stock has a market capitalization of $10.07 billion, a PE ratio of -71.11 and a beta of 2.18. Seattle Genetics has a twelve month low of $47.75 and a twelve month high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last posted 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 business had revenue of $169.42 million during 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, equities research analysts expect that Seattle Genetics will post -1.44 EPS for the current fiscal year.

In other news, insider Clay B. Siegall sold 20,148 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $76.84, for a total value of $1,548,172.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Darren S. Cline sold 4,167 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $56.68, for a total transaction of $236,185.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,611 shares of company stock valued at $5,408,630. Company insiders own 33.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Baker BROS. Advisors LP lifted its holdings in shares of Seattle Genetics by 3.0% in the 2nd quarter. Baker BROS. Advisors LP now owns 51,046,060 shares of the biotechnology company’s stock worth $3,388,948,000 after acquiring an additional 1,470,651 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Seattle Genetics by 251.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 8,610 shares of the biotechnology company’s stock worth $664,000 after buying an additional 6,160 shares during the period. Paloma Partners Management Co increased its stake in shares of Seattle Genetics by 69.0% in the second quarter. Paloma Partners Management Co now owns 26,018 shares of the biotechnology company’s stock worth $1,728,000 after buying an additional 10,619 shares during the period. Cookson Peirce & Co. Inc. purchased a new position in shares of Seattle Genetics in the third quarter worth $715,000. Finally, Eagle Asset Management Inc. purchased a new position in shares of Seattle Genetics in the second quarter worth $37,747,000.

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.

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