Seattle Genetics (SGEN) Lifted to Hold at BidaskClub
BidaskClub upgraded shares of Seattle Genetics (NASDAQ:SGEN) from a sell rating to a hold rating in a research report report published on Saturday morning.
SGEN has been the topic of several other research reports. Oppenheimer assumed coverage on shares of Seattle Genetics in a research note on Tuesday, October 10th. They issued a hold rating on the stock. Cantor Fitzgerald set a $46.00 target price on shares of Seattle Genetics and gave the company a hold rating in a research note on Tuesday, October 10th. Cann assumed coverage on shares of Seattle Genetics in a research note on Wednesday, November 8th. They issued a hold rating on the stock. Bank of America raised shares of Seattle Genetics from an underperform rating to a neutral rating in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Seattle Genetics from $55.00 to $60.00 and gave the company a neutral rating in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $63.76.
Shares of Seattle Genetics (NASDAQ SGEN) opened at $53.50 on Friday. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $71.32. The firm has a market cap of $7,700.16, a price-to-earnings ratio of -62.21 and a beta of 2.37.
Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The business had revenue of $135.29 million for the quarter, compared to the consensus estimate of $112.76 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. analysts anticipate that Seattle Genetics will post -0.93 earnings per share for the current fiscal year.
In other Seattle Genetics news, COO Eric Dobmeier sold 9,600 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $57.80, for a total transaction of $554,880.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $55.40, for a total transaction of $1,043,292.80. The disclosure for this sale can be found here. Insiders sold a total of 157,210 shares of company stock worth $9,273,250 in the last ninety days. 34.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of SGEN. Quantbot Technologies LP boosted its holdings in shares of Seattle Genetics by 116.5% in the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 1,428 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in shares of Seattle Genetics in the 3rd quarter valued at about $180,000. Virtu Financial LLC bought a new stake in shares of Seattle Genetics in the 3rd quarter valued at about $203,000. DRW Securities LLC bought a new stake in shares of Seattle Genetics in the 2nd quarter valued at about $207,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Seattle Genetics in the 3rd quarter valued at about $208,000. 98.89% of the stock is currently owned by institutional investors and hedge funds.
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About Seattle Genetics
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).
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