Seattle Genetics Inc. (SGEN) Stock Price Up 3%
Seattle Genetics Inc. (NASDAQ:SGEN) shares rose 3% during trading on Monday . The stock traded as high as $47.01 and last traded at $46.73, with a volume of 332,822 shares trading hands. The stock had previously closed at $45.38.
SGEN has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective (up previously from $60.00) on shares of Seattle Genetics in a research note on Wednesday, June 29th. Credit Suisse Group AG reissued a “buy” rating on shares of Seattle Genetics in a research note on Tuesday, July 12th. Leerink Swann raised their price objective on shares of Seattle Genetics from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, August 1st. Barclays PLC raised their price objective on shares of Seattle Genetics from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $43.00 price objective on shares of Seattle Genetics in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. Seattle Genetics has an average rating of “Hold” and a consensus price target of $47.62.
The company’s market cap is $6.57 billion. The firm has a 50 day moving average price of $44.80 and a 200-day moving average price of $37.94.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, July 26th. The company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.09. The company earned $95.40 million during the quarter, compared to analysts’ expectations of $94.56 million. During the same quarter in the prior year, the company earned ($0.38) EPS. The firm’s revenue was up 23.7% compared to the same quarter last year. Equities analysts expect that Seattle Genetics Inc. will post ($1.00) EPS for the current year.
In other Seattle Genetics news, EVP Darren S. Cline sold 3,366 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $42.07, for a total value of $141,607.62. Following the completion of the transaction, the executive vice president now owns 42,747 shares in the company, valued at approximately $1,798,366.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Clay B. Siegall sold 11,660 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $47.19, for a total value of $550,235.40. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Seattle Genetics stock. Trexquant Investment LP increased its position in Seattle Genetics Inc. (NASDAQ:SGEN) by 37.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,480 shares of the company’s stock after buying an additional 8,080 shares during the period. Trexquant Investment LP’s holdings in Seattle Genetics were worth $1,323,000 as of its most recent filing with the SEC.
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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