Seattle Genetics Inc. (NASDAQ:SGEN) gapped up prior to trading on Thursday . The stock had previously closed at $43.29, but opened at $43.40. Seattle Genetics shares last traded at $44.27, with a volume of 252,480 shares.

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $43.00 target price on shares of Seattle Genetics in a report on Wednesday, June 8th. Credit Suisse Group AG reissued a “buy” rating on shares of Seattle Genetics in a report on Wednesday, June 8th. Zacks Investment Research upgraded Seattle Genetics from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Monday, July 4th. HC Wainwright restated a “buy” rating and issued a $65.00 price target on shares of Seattle Genetics in a research note on Monday, June 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $72.00 price target (up from $60.00) on shares of Seattle Genetics in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $46.61.

The stock has a 50 day moving average price of $40.81 and a 200 day moving average price of $36.49. The company’s market capitalization is $6.17 billion.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, April 28th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by $0.06. The company earned $111.15 million during the quarter, compared to the consensus estimate of $116.49 million. The company’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) EPS. Analysts anticipate that Seattle Genetics Inc. will post ($1.10) EPS for the current year.

In other news, CEO Clay B. Siegall sold 800 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $40.00, for a total value of $32,000.00. Following the completion of the sale, the chief executive officer now directly owns 556,915 shares in the company, valued at $22,276,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clay B. Siegall sold 8,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $40.09, for a total value of $336,756.00. Following the completion of the sale, the chief executive officer now owns 562,815 shares of the company’s stock, valued at $22,563,253.35. The disclosure for this sale can be found here.

Other hedge funds have bought and sold shares of the company. Eagle Asset Management boosted its stake in Seattle Genetics by 53.2% in the third quarter. Eagle Asset Management now owns 594,490 shares of the company’s stock worth $22,922,000 after buying an additional 206,317 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in Seattle Genetics by 1.4% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 27,234 shares of the company’s stock worth $1,222,000 after buying an additional 367 shares during the period. Rhumbline Advisers boosted its stake in Seattle Genetics by 7.7% in the fourth quarter. Rhumbline Advisers now owns 101,662 shares of the company’s stock worth $4,563,000 after buying an additional 7,225 shares during the period. California Public Employees Retirement System boosted its stake in Seattle Genetics by 14.0% in the fourth quarter. California Public Employees Retirement System now owns 294,700 shares of the company’s stock worth $13,226,000 after buying an additional 36,300 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Seattle Genetics by 12.7% in the fourth quarter. New York State Common Retirement Fund now owns 388,566 shares of the company’s stock worth $17,439,000 after buying an additional 43,913 shares during the period.

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).

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