Seattle Genetics’ (SGEN) Buy Rating Reaffirmed at JPMorgan Chase & Co.

Share on StockTwits

JPMorgan Chase & Co. reiterated their buy rating on shares of Seattle Genetics (NASDAQ:SGEN) in a research report sent to investors on Thursday morning.

Several other equities analysts have also commented on SGEN. Zacks Investment Research raised Seattle Genetics from a hold rating to a buy rating and set a $80.00 target price for the company in a report on Tuesday, October 23rd. BidaskClub raised Seattle Genetics from a hold rating to a buy rating in a report on Thursday. reaffirmed a hold rating on shares of Seattle Genetics in a report on Monday, October 1st. ValuEngine raised Seattle Genetics from a buy rating to a strong-buy rating in a report on Friday, November 30th. Finally, TheStreet lowered Seattle Genetics from a c rating to a d+ rating in a report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $79.75.

Shares of NASDAQ:SGEN traded up $0.41 during trading on Thursday, hitting $71.41. 587,486 shares of the company traded hands, compared to its average volume of 1,104,850. The firm has a market capitalization of $11.11 billion, a PE ratio of -81.15 and a beta of 2.04. Seattle Genetics has a one year low of $47.75 and a one year high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, October 25th. The biotechnology company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.15). The company had revenue of $169.42 million for the quarter, compared to the consensus estimate of $164.75 million. Seattle Genetics had a negative net margin of 26.58% and a negative return on equity of 19.13%. On average, sell-side analysts forecast that Seattle Genetics will post -1.44 EPS for the current fiscal year.

In related news, insider Clay B. Siegall sold 20,148 shares of the stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $65.73, for a total value of $1,324,328.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David W. Gryska sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 8th. The stock was sold at an average price of $65.04, for a total value of $325,200.00. Following the completion of the transaction, the director now directly owns 50,050 shares of the company’s stock, valued at $3,255,252. The disclosure for this sale can be found here. Insiders sold a total of 81,611 shares of company stock valued at $5,080,123 over the last three months. Corporate insiders own 33.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its position in Seattle Genetics by 2.0% in the fourth quarter. State of Alaska Department of Revenue now owns 13,381 shares of the biotechnology company’s stock worth $758,000 after purchasing an additional 257 shares during the period. IFM Investors Pty Ltd lifted its position in Seattle Genetics by 14.6% in the third quarter. IFM Investors Pty Ltd now owns 5,992 shares of the biotechnology company’s stock worth $462,000 after purchasing an additional 762 shares during the period. Aperio Group LLC lifted its position in Seattle Genetics by 2.8% in the third quarter. Aperio Group LLC now owns 28,952 shares of the biotechnology company’s stock worth $2,233,000 after purchasing an additional 802 shares during the period. Shell Asset Management Co. lifted its position in Seattle Genetics by 19.4% in the third quarter. Shell Asset Management Co. now owns 7,364 shares of the biotechnology company’s stock worth $568,000 after purchasing an additional 1,198 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Seattle Genetics by 11.6% in the third quarter. Advisors Asset Management Inc. now owns 11,764 shares of the biotechnology company’s stock worth $907,000 after purchasing an additional 1,222 shares during the period.

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.

Recommended Story: Depreciation

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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.

Leave a Reply