Seattle Genetics (NASDAQ:SGEN) Given a $121.00 Price Target at Needham & Company LLC

Needham & Company LLC set a $121.00 price objective on Seattle Genetics (NASDAQ:SGEN) in a report published on Monday, TipRanks reports. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of Seattle Genetics from a buy rating to a hold rating in a report on Monday. Bank of America boosted their price target on shares of Seattle Genetics from $58.00 to $83.00 and gave the company an underperform rating in a report on Tuesday. Oppenheimer boosted their price target on shares of Seattle Genetics from $92.00 to $110.00 and gave the company an outperform rating in a report on Tuesday. William Blair restated a buy rating on shares of Seattle Genetics in a report on Friday, July 19th. Finally, Leerink Swann boosted their price target on shares of Seattle Genetics from $102.00 to $120.00 and gave the company a positive rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $100.27.

Shares of SGEN stock traded up $1.32 during trading hours on Monday, reaching $99.96. 1,142,455 shares of the stock traded hands, compared to its average volume of 929,707. Seattle Genetics has a 1-year low of $50.71 and a 1-year high of $102.84. The business has a fifty day moving average price of $78.34 and a 200 day moving average price of $73.20. The firm has a market capitalization of $15.79 billion, a PE ratio of -60.58 and a beta of 1.95.

In other Seattle Genetics news, insider Vaughn B. Himes sold 6,836 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $73.21, for a total transaction of $500,463.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Clay B. Siegall sold 20,149 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $76.52, for a total transaction of $1,541,801.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,859 shares of company stock valued at $14,734,342. Corporate insiders own 33.80% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Seattle Genetics by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 9,393,384 shares of the biotechnology company’s stock worth $650,116,000 after acquiring an additional 132,318 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Seattle Genetics by 1.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,203,502 shares of the biotechnology company’s stock worth $567,764,000 after acquiring an additional 108,801 shares during the last quarter. First Trust Advisors LP grew its holdings in Seattle Genetics by 18.5% during the 2nd quarter. First Trust Advisors LP now owns 1,784,642 shares of the biotechnology company’s stock worth $123,515,000 after acquiring an additional 278,792 shares during the last quarter. Capital Bank & Trust Co grew its holdings in Seattle Genetics by 1.0% during the 2nd quarter. Capital Bank & Trust Co now owns 1,185,735 shares of the biotechnology company’s stock worth $81,899,000 after acquiring an additional 11,709 shares during the last quarter. Finally, Manning & Napier Group LLC grew its holdings in Seattle Genetics by 63.3% during the 2nd quarter. Manning & Napier Group LLC now owns 1,026,875 shares of the biotechnology company’s stock worth $71,068,000 after acquiring an additional 398,002 shares during the last quarter. 98.65% of the stock is currently owned by hedge funds and other institutional investors.

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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