JPMorgan Chase & Co. Reiterates “Buy” Rating for Seattle Genetics (SGEN)

Seattle Genetics (NASDAQ:SGEN)‘s stock had its “buy” rating reiterated by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday.

Other equities research analysts also recently issued reports about the company. reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Monday, October 1st. BidaskClub downgraded Seattle Genetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Piper Jaffray Companies decreased their price target on Seattle Genetics to $66.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. TheStreet downgraded Seattle Genetics from a “c” rating to a “d+” rating in a report on Thursday, October 25th. Finally, Royal Bank of Canada increased their price target on Seattle Genetics to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Seattle Genetics currently has a consensus rating of “Buy” and an average price target of $79.75.

SGEN stock opened at $71.41 on Thursday. The company has a market capitalization of $11.11 billion, a PE ratio of -81.15 and a beta of 2.04. Seattle Genetics has a twelve month low of $47.75 and a twelve month high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, October 25th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.15). Seattle Genetics had a negative net margin of 26.58% and a negative return on equity of 19.13%. The firm had revenue of $169.42 million during the quarter, compared to analyst estimates of $164.75 million. Sell-side analysts predict that Seattle Genetics will post -1.44 EPS for the current fiscal year.

In other Seattle Genetics news, insider Clay B. Siegall sold 20,148 shares of the stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $61.54, for a total value of $1,239,907.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Darren S. Cline sold 4,167 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $56.68, for a total value of $236,185.56. The disclosure for this sale can be found here. Insiders sold 81,611 shares of company stock valued at $5,080,123 in the last quarter. 33.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd purchased a new position in Seattle Genetics in the third quarter worth $104,000. Paradigm Asset Management Co. LLC purchased a new position in Seattle Genetics in the third quarter worth $108,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in Seattle Genetics in the second quarter worth $139,000. Glenmede Trust Co. NA increased its position in shares of Seattle Genetics by 500.0% in the third quarter. Glenmede Trust Co. NA now owns 2,400 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 2,000 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new position in shares of Seattle Genetics in the third quarter valued at $216,000.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

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Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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