Seattle Genetics (NASDAQ:SGEN) had its price objective hoisted by BMO Capital Markets from $174.00 to $186.00 in a research report sent to investors on Tuesday, The Fly reports.
Several other brokerages have also recently commented on SGEN. William Blair restated a buy rating on shares of Seattle Genetics in a report on Friday, April 3rd. Oppenheimer increased their price objective on shares of Seattle Genetics from $175.00 to $200.00 and gave the stock an outperform rating in a report on Friday, June 26th. Barclays reaffirmed a hold rating on shares of Seattle Genetics in a research note on Sunday, May 3rd. Needham & Company LLC increased their price target on shares of Seattle Genetics from $163.00 to $188.00 and gave the company a buy rating in a research note on Tuesday. Finally, Zacks Investment Research lowered shares of Seattle Genetics from a buy rating to a hold rating and set a $132.00 price target for the company. in a report on Wednesday, April 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Seattle Genetics presently has an average rating of Buy and a consensus target price of $147.42.
Shares of SGEN stock opened at $169.92 on Tuesday. The company has a market capitalization of $28.45 billion, a P/E ratio of -90.38 and a beta of 1.42. Seattle Genetics has a 12-month low of $63.02 and a 12-month high of $175.64. The firm has a 50-day moving average price of $158.02 and a 200 day moving average price of $127.98.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.17). Seattle Genetics had a negative net margin of 32.81% and a negative return on equity of 16.51%. The firm had revenue of $234.51 million during the quarter, compared to the consensus estimate of $207.59 million. During the same quarter last year, the firm posted ($0.08) EPS. The business’s revenue was up 20.1% on a year-over-year basis. As a group, equities research analysts predict that Seattle Genetics will post -2.8 earnings per share for the current year.
In related news, EVP Jean I. Liu sold 9,877 shares of the company’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of $165.00, for a total value of $1,629,705.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bros. Advisors Lp Baker sold 500,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $158.50, for a total value of $79,250,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 700,756 shares of company stock valued at $110,414,053. 31.10% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Capital World Investors acquired a new stake in shares of Seattle Genetics during the first quarter worth about $33,737,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Seattle Genetics by 18.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 21,469 shares of the biotechnology company’s stock worth $2,453,000 after acquiring an additional 3,356 shares during the period. Mackenzie Financial Corp bought a new stake in Seattle Genetics in the 1st quarter valued at $379,000. Baird Financial Group Inc. boosted its stake in Seattle Genetics by 2.5% in the 1st quarter. Baird Financial Group Inc. now owns 4,300 shares of the biotechnology company’s stock worth $496,000 after purchasing an additional 103 shares during the period. Finally, US Bancorp DE increased its holdings in Seattle Genetics by 52.9% during the 1st quarter. US Bancorp DE now owns 11,359 shares of the biotechnology company’s stock worth $1,311,000 after purchasing an additional 3,932 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.
About Seattle Genetics
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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