SGEN has been the topic of several other reports. HC Wainwright restated a buy rating on shares of Seattle Genetics in a research report on Tuesday, June 5th. Barclays initiated coverage on shares of Seattle Genetics in a research report on Tuesday, March 20th. They set an overweight rating and a $74.00 price objective on the stock. Zacks Investment Research upgraded shares of Seattle Genetics from a strong sell rating to a hold rating in a research report on Monday, April 23rd. Cann restated a hold rating on shares of Seattle Genetics in a research report on Tuesday, March 20th. Finally, BidaskClub downgraded shares of Seattle Genetics from a hold rating to a sell rating in a research report on Thursday, May 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $66.57.
Seattle Genetics traded up $1.43, hitting $66.39, during trading on Thursday, according to MarketBeat Ratings. The company’s stock had a trading volume of 878,040 shares, compared to its average volume of 997,121. Seattle Genetics has a one year low of $45.31 and a one year high of $69.71. The company has a market capitalization of $10.28 billion, a PE ratio of -75.44 and a beta of 1.91.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, April 26th. The biotechnology company reported ($0.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.31). The firm had revenue of $140.59 million for the quarter, compared to the consensus estimate of $119.04 million. Seattle Genetics had a negative net margin of 34.51% and a negative return on equity of 29.74%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.42) earnings per share. research analysts expect that Seattle Genetics will post -1.68 earnings per share for the current year.
In other Seattle Genetics news, EVP Darren S. Cline sold 12,054 shares of Seattle Genetics stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $69.00, for a total value of $831,726.00. Following the completion of the transaction, the executive vice president now directly owns 72,723 shares of the company’s stock, valued at approximately $5,017,887. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bros. Advisors Lp Baker acquired 306,917 shares of the company’s stock in a transaction on Tuesday, May 1st. The stock was acquired at an average cost of $51.36 per share, with a total value of $15,763,257.12. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 972,105 shares of company stock worth $51,109,391 and sold 86,550 shares worth $5,050,214. Insiders own 33.80% of the company’s stock.
Several large investors have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Seattle Genetics in the 1st quarter worth $380,000. Suntrust Banks Inc. purchased a new position in shares of Seattle Genetics in the 1st quarter worth $337,000. Amalgamated Bank grew its stake in shares of Seattle Genetics by 17.6% in the 1st quarter. Amalgamated Bank now owns 22,504 shares of the biotechnology company’s stock worth $1,178,000 after buying an additional 3,362 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Seattle Genetics by 9.0% in the 1st quarter. Principal Financial Group Inc. now owns 129,563 shares of the biotechnology company’s stock worth $6,781,000 after buying an additional 10,668 shares in the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Seattle Genetics by 4,871.9% in the 1st quarter. Summit Trail Advisors LLC now owns 107,344 shares of the biotechnology company’s stock worth $107,000 after buying an additional 105,185 shares in the last quarter.
Seattle Genetics Company Profile
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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