Seattle Genetics, Inc. (SGEN) Receives Average Recommendation of “Hold” from Brokerages

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) have been assigned an average rating of “Hold” from the twenty-six ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $64.13.

SGEN has been the subject of several research analyst reports. BidaskClub upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Saturday. Oppenheimer restated a “hold” rating on shares of Seattle Genetics in a research note on Thursday. TheStreet upgraded shares of Seattle Genetics from a “d” rating to a “c” rating in a research note on Thursday, November 16th. Royal Bank Of Canada upped their price objective on shares of Seattle Genetics from $68.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, November 13th. Finally, Cann initiated coverage on shares of Seattle Genetics in a research note on Wednesday, November 8th. They issued a “hold” rating for the company.

Seattle Genetics (SGEN) opened at $59.26 on Monday. Seattle Genetics has a twelve month low of $45.31 and a twelve month high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.23. The firm had revenue of $135.29 million for the quarter, compared to analyst estimates of $112.76 million. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. Seattle Genetics’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.23) earnings per share. sell-side analysts expect that Seattle Genetics will post -0.93 EPS for the current fiscal year.

In other news, CFO Todd E. Simpson sold 39,385 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $60.91, for a total transaction of $2,398,940.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eric Dobmeier sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $58.25, for a total transaction of $2,038,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,378 shares of company stock valued at $8,229,957. Corporate insiders own 34.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in shares of Seattle Genetics by 53.2% in the 2nd quarter. US Bancorp DE now owns 10,943 shares of the biotechnology company’s stock valued at $567,000 after purchasing an additional 3,798 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Seattle Genetics by 4.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 43,539 shares of the biotechnology company’s stock valued at $2,250,000 after purchasing an additional 1,762 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Seattle Genetics by 6.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 296,212 shares of the biotechnology company’s stock valued at $15,327,000 after purchasing an additional 17,130 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Seattle Genetics by 32.8% in the 2nd quarter. First Trust Advisors LP now owns 937,383 shares of the biotechnology company’s stock valued at $48,500,000 after purchasing an additional 231,462 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Seattle Genetics by 9.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 11,651 shares of the biotechnology company’s stock valued at $603,000 after purchasing an additional 1,018 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

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About Seattle Genetics

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).

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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