Seattle Genetics, Inc. (NASDAQ:SGEN) – Equities researchers at Oppenheimer raised their FY2022 EPS estimates for shares of Seattle Genetics in a research note issued to investors on Friday, June 26th. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will earn $2.00 per share for the year, up from their previous forecast of $1.88. Oppenheimer currently has a “Outperform” rating and a $200.00 target price on the stock.
A number of other research analysts also recently issued reports on the company. ValuEngine downgraded Seattle Genetics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. William Blair reissued a “buy” rating on shares of Seattle Genetics in a report on Friday, April 3rd. Guggenheim raised shares of Seattle Genetics from a “neutral” rating to a “buy” rating in a report on Friday, May 1st. Piper Sandler increased their target price on shares of Seattle Genetics from $135.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, BidaskClub lowered Seattle Genetics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $147.42.
Shares of SGEN opened at $169.92 on Monday. The company has a market capitalization of $28.45 billion, a price-to-earnings ratio of -90.38 and a beta of 1.42. Seattle Genetics has a 52 week low of $63.02 and a 52 week high of $175.64. The stock’s 50-day moving average price is $158.02 and its 200-day moving average price is $127.98.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.17). The business had revenue of $234.51 million for the quarter, compared to analyst estimates of $207.59 million. Seattle Genetics had a negative net margin of 32.81% and a negative return on equity of 16.51%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share.
Several hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new stake in shares of Seattle Genetics in the fourth quarter valued at about $4,456,000. Synovus Financial Corp boosted its holdings in Seattle Genetics by 206.5% in the 1st quarter. Synovus Financial Corp now owns 331 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 223 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Seattle Genetics in the 4th quarter valued at approximately $39,000. Exchange Traded Concepts LLC increased its holdings in shares of Seattle Genetics by 387.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 458 shares of the biotechnology company’s stock worth $53,000 after buying an additional 364 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Seattle Genetics by 66.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 500 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 200 shares during the period. 94.33% of the stock is currently owned by hedge funds and other institutional investors.
In other Seattle Genetics news, Director Marc E. Lippman sold 1,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $152.03, for a total transaction of $152,030.00. Following the transaction, the director now owns 48,668 shares of the company’s stock, valued at $7,398,996.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jean I. Liu sold 9,877 shares of the company’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $165.00, for a total value of $1,629,705.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 700,756 shares of company stock worth $110,414,053. Insiders own 31.10% of the company’s stock.
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.
Recommended Story: Stock Portfolio Tracker
Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.