Seattle Genetics, Inc. (NASDAQ:SGEN) has earned a consensus rating of “Buy” from the twenty-two analysts that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $106.53.
SGEN has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $140.00 price target (up previously from $98.00) on shares of Seattle Genetics in a report on Tuesday, October 22nd. Barclays reissued a “buy” rating and issued a $117.00 price objective on shares of Seattle Genetics in a research note on Thursday, October 31st. Leerink Swann boosted their price objective on shares of Seattle Genetics from $102.00 to $120.00 and gave the company a “positive” rating in a research report on Tuesday, October 22nd. Cowen set a $80.00 price objective on shares of Seattle Genetics and gave the company a “hold” rating in a research report on Monday, October 21st. Finally, Svb Leerink restated an “outperform” rating on shares of Seattle Genetics in a research note on Wednesday, October 2nd.
In other Seattle Genetics news, Director Srinivas Akkaraju sold 17,500 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $119.78, for a total transaction of $2,096,150.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Roger D. Dansey sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $73.80, for a total transaction of $221,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,348 shares of company stock valued at $20,609,502. 33.80% of the stock is owned by corporate insiders.
SGEN stock opened at $117.16 on Friday. Seattle Genetics has a 52 week low of $51.50 and a 52 week high of $122.36. The business has a 50-day simple moving average of $109.08 and a 200 day simple moving average of $82.04. The company has a market cap of $20.28 billion, a PE ratio of -71.01 and a beta of 2.03.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.19). Seattle Genetics had a negative return on equity of 19.17% and a negative net margin of 37.97%. The firm had revenue of $213.26 million for the quarter, compared to analyst estimates of $211.85 million. During the same quarter in the previous year, the company earned ($0.42) earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, analysts anticipate that Seattle Genetics will post -1.59 EPS for the current fiscal year.
About Seattle Genetics
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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