Barclays began coverage on shares of Seattle Genetics (NASDAQ:SGEN) in a report issued on Tuesday. The brokerage set an “overweight” rating and a $74.00 price target on the biotechnology company’s stock. Barclays’ price target would indicate a potential upside of 36.73% from the company’s current price.
A number of other equities research analysts also recently issued reports on the stock. Oppenheimer reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Thursday, December 7th. BidaskClub raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. JPMorgan Chase & Co. raised shares of Seattle Genetics from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a research note on Wednesday, February 14th. Cowen reaffirmed a “hold” rating and set a $54.00 price target on shares of Seattle Genetics in a research note on Monday, December 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $74.00 price target (up previously from $72.00) on shares of Seattle Genetics in a research note on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Seattle Genetics presently has a consensus rating of “Buy” and an average target price of $64.63.
Seattle Genetics (NASDAQ SGEN) opened at $54.12 on Tuesday. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $71.32. The company has a market cap of $8,802.63, a price-to-earnings ratio of -61.50 and a beta of 1.96.
In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $51.71, for a total transaction of $973,802.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Vaughn B. Himes sold 5,000 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $58.12, for a total transaction of $290,600.00. The disclosure for this sale can be found here. Insiders have sold 71,953 shares of company stock worth $3,833,188 in the last quarter. Company insiders own 34.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. bought a new position in shares of Seattle Genetics in the fourth quarter worth about $121,000. Quantbot Technologies LP grew its holdings in shares of Seattle Genetics by 116.5% in the third 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. Envestnet Asset Management Inc. grew its holdings in shares of Seattle Genetics by 82.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,861 shares of the biotechnology company’s stock worth $153,000 after purchasing an additional 1,294 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Seattle Genetics in the third quarter worth about $203,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Seattle Genetics in the third quarter worth about $208,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.
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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).
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