Seattle Genetics Inc. (SGEN) Trading 3% Higher
Seattle Genetics Inc. (NASDAQ:SGEN) shares traded up 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. The stock had previously closed at $45.38.
Several research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating on shares of Seattle Genetics in a report on Saturday, April 30th. SunTrust Banks Inc. raised their price objective on Seattle Genetics from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Zacks Investment Research raised Seattle Genetics from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Monday, July 4th. Cantor Fitzgerald downgraded Seattle Genetics from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Wednesday, July 27th. Finally, Cowen and Company reissued a “hold” rating on shares of Seattle Genetics in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $47.62.
The company’s market capitalization is $6.72 billion. The company has a 50-day moving average price of $45.04 and a 200 day moving average price of $38.24.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Tuesday, July 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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) earnings per share. The firm’s revenue was up 23.7% compared to the same quarter last year. On average, analysts predict that Seattle Genetics Inc. will post ($1.00) EPS for the current year.
In related news, CEO Clay B. Siegall sold 22,083 shares of the stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $43.59, for a total transaction of $962,597.97. Following the transaction, the chief executive officer now directly owns 566,538 shares in the company, valued at $24,695,391.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darren S. Cline sold 3,366 shares of the stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $42.07, for a total value of $141,607.62. Following the transaction, the executive vice president now owns 42,747 shares in the company, valued at $1,798,366.29. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Seattle Genetics stock. Trexquant Investment LP raised its stake in Seattle Genetics Inc. (NASDAQ:SGEN) by 37.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting 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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