JPMorgan Chase & Co. upgraded shares of Seattle Genetics (NASDAQ:SGEN) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday, February 14th, Marketbeat.com reports. JPMorgan Chase & Co. currently has $60.00 price objective on the biotechnology company’s stock.
SGEN has been the subject of a number of other reports. Cann initiated coverage on shares of Seattle Genetics in a report on Wednesday, November 8th. They set a hold rating for the company. Oppenheimer reaffirmed a hold rating on shares of Seattle Genetics in a report on Thursday, December 7th. Guggenheim reaffirmed a buy rating and set a $72.00 price target on shares of Seattle Genetics in a report on Monday, October 23rd. BidaskClub raised shares of Seattle Genetics from a sell rating to a hold rating in a report on Saturday, December 9th. Finally, TheStreet raised shares of Seattle Genetics from a d rating to a c rating in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $64.25.
Seattle Genetics (NASDAQ SGEN) opened at $54.16 on Wednesday. Seattle Genetics has a one year low of $45.31 and a one year high of $71.32. The company has a market cap of $7,800.00, a price-to-earnings ratio of -60.85 and a beta of 2.08.
In related news, Director Bros. Advisors Lp Baker acquired 3,846,153 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was bought at an average cost of $52.00 per share, with a total value of $199,999,956.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, COO Eric Dobmeier sold 3,729 shares of Seattle Genetics stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $58.75, for a total transaction of $219,078.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,225 shares of company stock valued at $3,772,766. 34.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. acquired a new position in shares of Seattle Genetics in the 4th quarter valued at about $121,000. Quantbot Technologies LP boosted its holdings 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 valued at $144,000 after buying an additional 1,428 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Seattle Genetics by 82.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,861 shares of the biotechnology company’s stock valued at $153,000 after buying an additional 1,294 shares during the period. Bristlecone Advisors LLC acquired a new position in shares of Seattle Genetics in the 3rd quarter valued at about $180,000. Finally, Virtu Financial LLC acquired a new position in shares of Seattle Genetics in the 3rd quarter valued at about $203,000. 90.99% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This report was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this report on another site, it was stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this report can be accessed at https://stocknewstimes.com/2018/02/21/seattle-genetics-sgen-stock-rating-upgraded-by-jpmorgan-chase-co.html.
Seattle Genetics Company Profile
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).
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.