Several other equities research analysts have also issued reports on SGEN. BidaskClub raised shares of Seattle Genetics from a sell rating to a hold rating in a report on Wednesday, May 16th. Cann reissued a hold rating on shares of Seattle Genetics in a report on Thursday, May 17th. HC Wainwright reissued a buy rating on shares of Seattle Genetics in a report on Tuesday, June 5th. SunTrust Banks raised shares of Seattle Genetics from a hold rating to a buy rating and increased their price objective for the company from $60.00 to $80.00 in a report on Monday, June 11th. Finally, ValuEngine raised shares of Seattle Genetics from a hold rating to a buy rating in a report on Tuesday, June 12th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $71.64.
Seattle Genetics stock traded up $1.00 during midday trading on Friday, hitting $77.45. The stock had a trading volume of 699,964 shares, compared to its average volume of 507,548. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of -88.01 and a beta of 1.80. Seattle Genetics has a 52-week low of $47.75 and a 52-week high of $77.91.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, July 26th. The biotechnology company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.81. The company had revenue of $170.20 million during the quarter, compared to analyst estimates of $141.07 million. Seattle Genetics had a negative net margin of 7.75% and a negative return on equity of 21.01%. The firm’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.39) EPS. analysts predict that Seattle Genetics will post -1.41 EPS for the current fiscal year.
In other Seattle Genetics news, EVP Darren S. Cline sold 4,784 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $74.23, for a total transaction of $355,116.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vaughn B. Himes sold 5,530 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $74.23, for a total transaction of $410,491.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,372 shares of company stock valued at $8,950,213. Insiders own 33.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of SGEN. Baker BROS. Advisors LP grew its holdings in shares of Seattle Genetics by 3.0% in the second quarter. Baker BROS. Advisors LP now owns 51,046,060 shares of the biotechnology company’s stock valued at $3,388,948,000 after purchasing an additional 1,470,651 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Seattle Genetics in the second quarter valued at $83,840,000. BlackRock Inc. grew its holdings in shares of Seattle Genetics by 9.5% in the first quarter. BlackRock Inc. now owns 8,492,963 shares of the biotechnology company’s stock valued at $444,521,000 after purchasing an additional 736,469 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Seattle Genetics in the second quarter valued at $37,747,000. Finally, Carillon Tower Advisers Inc. purchased a new position in shares of Seattle Genetics in the second quarter valued at $26,267,000.
About Seattle Genetics
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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