Seattle Genetics, Inc. (SGEN) Receives $85.71 Consensus PT from Brokerages

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) have been given an average rating of “Buy” by the eighteen brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $85.71.

A number of analysts have recently commented on the company. ValuEngine upgraded Seattle Genetics from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 7th. BidaskClub downgraded Seattle Genetics from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. restated a “buy” rating on shares of Seattle Genetics in a report on Sunday, April 28th. HC Wainwright restated a “buy” rating on shares of Seattle Genetics in a report on Friday, April 26th. Finally, Stifel Nicolaus assumed coverage on Seattle Genetics in a report on Wednesday, April 10th. They set a “hold” rating and a $70.00 price objective for the company.

Shares of Seattle Genetics stock opened at $68.58 on Monday. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of -41.56 and a beta of 2.22. Seattle Genetics has a fifty-two week low of $50.71 and a fifty-two week high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, April 25th. The biotechnology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.25. The business had revenue of $195.20 million during the quarter, compared to the consensus estimate of $186.79 million. Seattle Genetics had a negative return on equity of 16.09% and a negative net margin of 17.52%. The business’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.73) EPS. As a group, sell-side analysts expect that Seattle Genetics will post -1.36 earnings per share for the current year.

In related news, CEO Clay B. Siegall sold 20,148 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $69.19, for a total value of $1,394,040.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd E. Simpson sold 10,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,768 shares of company stock valued at $7,328,530. 33.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank grew its stake in shares of Seattle Genetics by 4.3% during the first quarter. Comerica Bank now owns 3,801 shares of the biotechnology company’s stock valued at $308,000 after acquiring an additional 157 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Seattle Genetics by 1.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,738 shares of the biotechnology company’s stock valued at $1,153,000 after acquiring an additional 165 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in shares of Seattle Genetics by 0.3% during the first quarter. Gateway Investment Advisers LLC now owns 62,280 shares of the biotechnology company’s stock valued at $4,561,000 after acquiring an additional 171 shares in the last quarter. M&T Bank Corp grew its stake in shares of Seattle Genetics by 1.0% during the fourth quarter. M&T Bank Corp now owns 18,132 shares of the biotechnology company’s stock valued at $1,027,000 after acquiring an additional 188 shares in the last quarter. Finally, ETF Managers Group LLC grew its stake in shares of Seattle Genetics by 7.7% during the first quarter. ETF Managers Group LLC now owns 2,733 shares of the biotechnology company’s stock valued at $200,000 after acquiring an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 99.92% of the company’s stock.

Seattle Genetics Company Profile

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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Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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