Seattle Genetics, Inc. (SGEN) Given Average Recommendation of “Hold” by Analysts

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) have been assigned a consensus recommendation of “Hold” from the twenty-six brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $63.76.

Several analysts recently weighed in on the stock. Oppenheimer reiterated a “hold” rating on shares of Seattle Genetics in a report on Tuesday. Cantor Fitzgerald set a $46.00 price target on shares of Seattle Genetics and gave the company a “hold” rating in a report on Monday, October 2nd. BidaskClub upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a report on Saturday, December 30th. Barclays lifted their price target on shares of Seattle Genetics from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Monday, October 16th. Finally, Cowen reiterated a “hold” rating on shares of Seattle Genetics in a report on Sunday, October 29th.

Seattle Genetics (NASDAQ SGEN) opened at $55.53 on Friday. Seattle Genetics has a fifty-two week low of $45.31 and a fifty-two week high of $71.32. The stock has a market cap of $7,990.00, a P/E ratio of -63.83 and a beta of 2.37.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.23. The business had revenue of $135.29 million for the quarter, compared to analysts’ expectations of $112.76 million. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.23) earnings per share. equities analysts forecast that Seattle Genetics will post -0.93 earnings per share for the current fiscal year.

In other news, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $61.18, for a total value of $1,152,141.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Eric Dobmeier sold 3,729 shares of Seattle Genetics stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $58.75, for a total value of $219,078.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,210 shares of company stock worth $9,273,250. Company insiders own 34.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SGEN. Quantbot Technologies LP raised its position in shares of Seattle Genetics by 116.5% in the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 1,428 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in shares of Seattle Genetics in the 3rd quarter worth about $180,000. Virtu Financial LLC purchased a new position in shares of Seattle Genetics in the 3rd quarter worth about $203,000. DRW Securities LLC purchased a new position in shares of Seattle Genetics in the 2nd quarter worth about $207,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Seattle Genetics in the 3rd quarter worth about $208,000. 98.89% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This report was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this report on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this report can be viewed at https://stocknewstimes.com/2018/01/12/seattle-genetics-inc-sgen-given-average-recommendation-of-hold-by-analysts.html.

About Seattle Genetics

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).

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.

Latest News

Leave a Reply