Seattle Genetics (NASDAQ:SGEN) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.

A number of other analysts have also weighed in on SGEN. Cowen restated a “hold” rating on shares of Seattle Genetics in a research note on Tuesday. TheStreet lowered shares of Seattle Genetics from a “c-” rating to a “d+” rating in a research note on Wednesday, February 28th. HC Wainwright reaffirmed a “buy” rating on shares of Seattle Genetics in a report on Wednesday, February 7th. SunTrust Banks reaffirmed a “hold” rating and issued a $60.00 price target on shares of Seattle Genetics in a report on Wednesday, February 7th. Finally, Bank of America lowered their price target on Seattle Genetics from $70.00 to $68.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.25.

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Shares of Seattle Genetics (SGEN) opened at $58.59 on Thursday. Seattle Genetics has a one year low of $45.31 and a one year high of $71.32. The firm has a market cap of $9,250.00, a P/E ratio of -651.00 and a beta of 1.96.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. The firm had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. During the same period in the prior year, the firm earned ($0.39) earnings per share. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. analysts forecast that Seattle Genetics will post -1.59 EPS for the current fiscal year.

In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $51.71, for a total value of $973,802.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 3,846,153 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was acquired at an average price of $52.00 per share, with a total value of $199,999,956.00. The disclosure for this purchase can be found here. Insiders sold 66,953 shares of company stock valued at $3,542,588 in the last quarter. 34.70% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in SGEN. American International Group Inc. purchased a new position in Seattle Genetics in the fourth quarter worth $121,000. Quantbot Technologies LP raised its position in Seattle Genetics by 116.5% in the third quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 1,428 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Seattle Genetics by 82.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,861 shares of the biotechnology company’s stock worth $153,000 after acquiring an additional 1,294 shares in the last quarter. Virtu Financial LLC purchased a new position in Seattle Genetics in the third quarter worth $203,000. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Seattle Genetics in the third quarter worth $208,000. Hedge funds and other institutional investors own 93.13% of the company’s stock.

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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).

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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