Seattle Genetics (NASDAQ:SGEN) had its target price increased by Goldman Sachs Group from $126.00 to $165.00 in a research note published on Tuesday, BenzingaRatingsTable reports. Goldman Sachs Group currently has a buy rating on the biotechnology company’s stock.
Several other brokerages have also weighed in on SGEN. Guggenheim lowered Seattle Genetics from a buy rating to a neutral rating in a research report on Thursday, January 2nd. Stifel Nicolaus increased their target price on Seattle Genetics from $87.00 to $101.00 in a research report on Thursday, December 19th. Piper Jaffray Companies increased their target price on Seattle Genetics from $120.00 to $130.00 and gave the stock an overweight rating in a research report on Friday, December 20th. Barclays reaffirmed a buy rating and issued a $117.00 target price on shares of Seattle Genetics in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. reaffirmed a buy rating on shares of Seattle Genetics in a research report on Monday, October 21st. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $118.94.
Shares of NASDAQ SGEN opened at $118.07 on Tuesday. Seattle Genetics has a 1-year low of $62.90 and a 1-year high of $124.32. The business’s fifty day moving average price is $112.49 and its two-hundred day moving average price is $97.59.
Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, February 6th. The biotechnology company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.60. Seattle Genetics had a negative return on equity of 13.99% and a negative net margin of 17.31%. The firm had revenue of $289.80 million for the quarter, compared to analyst estimates of $219.21 million. During the same period last year, the company earned ($0.75) earnings per share. The firm’s revenue for the quarter was up 66.1% on a year-over-year basis. Sell-side analysts anticipate that Seattle Genetics will post -2.95 EPS for the current fiscal year.
In other news, CEO Clay B. Siegall sold 28,472 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $114.61, for a total transaction of $3,263,175.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marc E. Lippman sold 35,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $115.80, for a total value of $4,053,000.00. The disclosure for this sale can be found here. Insiders have sold 207,916 shares of company stock worth $21,550,901 over the last three months. Corporate insiders own 33.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc boosted its stake in Seattle Genetics by 333.3% during the third quarter. NEXT Financial Group Inc now owns 325 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. Usca Ria LLC bought a new position in Seattle Genetics during the third quarter valued at about $34,000. Altshuler Shaham Ltd bought a new position in Seattle Genetics during the fourth quarter valued at about $39,000. Quadrant Capital Group LLC boosted its stake in Seattle Genetics by 215.4% during the third quarter. Quadrant Capital Group LLC now owns 511 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 349 shares in the last quarter. Finally, James Investment Research Inc. bought a new position in Seattle Genetics during the fourth quarter valued at about $71,000. 95.86% of the stock is currently owned by institutional investors.
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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