Seattle Genetics (NASDAQ:SGEN)‘s stock had its “underweight” rating reiterated by investment analysts at Piper Jaffray in a note issued to investors on Monday, AnalystRatingsNetwork reports.
Shares of Seattle Genetics (NASDAQ:SGEN) opened at 44.42 on Monday. Seattle Genetics has a one year low of $22.71 and a one year high of $49.23. The stock has a 50-day moving average of $40.69 and a 200-day moving average of $39.75. The company’s market cap is $5.441 billion.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.22) by $0.03. The company had revenue of $71.00 million for the quarter, compared to the consensus estimate of $57.79 million. During the same quarter in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 42.5% on a year-over-year basis. Analysts expect that Seattle Genetics will post $-0.63 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at UBS AG raised their price target on shares of Seattle Genetics from $36.00 to $48.00 in a research note to investors on Tuesday, October 8th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks upgraded shares of Seattle Genetics from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, October 7th. They now have a $49.20 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Seattle Genetics from $37.00 to $42.00 in a research note to investors on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $41.80.
In other Seattle Genetics news, Director Felix Baker bought 1,005,901 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average cost of $43.19 per share, for a total transaction of $43,444,864.19. Following the completion of the transaction, the director now directly owns 76,997 shares of the company’s stock, valued at approximately $3,325,500. The purchase was disclosed in a filing with the SEC, which is available at this link.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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