Seattle Genetics (NASDAQ:SGEN) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Several other equities research analysts also recently issued reports on SGEN. reiterated a “hold” rating on shares of Seattle Genetics in a research note on Monday, October 22nd. Zacks Investment Research upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, October 23rd. Piper Jaffray Companies cut their target price on shares of Seattle Genetics to $66.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. HC Wainwright reiterated a “buy” rating and issued a $98.00 target price on shares of Seattle Genetics in a research note on Friday, October 26th. Finally, Bank of America downgraded shares of Seattle Genetics from a “neutral” rating to an “underperform” rating in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $80.82.

Seattle Genetics stock opened at $66.53 on Tuesday. Seattle Genetics has a one year low of $47.75 and a one year high of $84.37. The stock has a market cap of $10.44 billion, a PE ratio of -40.32 and a beta of 2.39.

Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.36). Seattle Genetics had a negative net margin of 34.01% and a negative return on equity of 19.33%. The firm had revenue of $174.50 million during the quarter, compared to analyst estimates of $164.03 million. During the same quarter last year, the business posted ($0.41) earnings per share. The company’s revenue for the quarter was up 34.6% on a year-over-year basis. Research analysts anticipate that Seattle Genetics will post -0.44 earnings per share for the current year.

In other Seattle Genetics news, EVP Darren S. Cline sold 7,000 shares of the stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $62.88, for a total value of $440,160.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David W. Gryska sold 5,000 shares of the stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $65.04, for a total transaction of $325,200.00. Following the completion of the transaction, the director now directly owns 50,050 shares in the company, valued at $3,255,252. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,463 shares of company stock worth $3,840,215. Insiders own 33.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Seattle Genetics by 107.5% in the 3rd quarter. Morgan Stanley now owns 296,026 shares of the biotechnology company’s stock valued at $22,830,000 after acquiring an additional 153,370 shares during the period. Manning & Napier Group LLC raised its holdings in Seattle Genetics by 9.1% in the 4th quarter. Manning & Napier Group LLC now owns 1,625,891 shares of the biotechnology company’s stock valued at $92,122,000 after acquiring an additional 135,280 shares during the period. Glenmede Trust Co. NA raised its holdings in Seattle Genetics by 500.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,400 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 2,000 shares during the period. Hsbc Holdings PLC bought a new position in shares of Seattle Genetics during the third quarter worth approximately $322,000. Finally, Seven Eight Capital LP bought a new position in shares of Seattle Genetics during the third quarter worth approximately $388,000.

Seattle Genetics Company Profile

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

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Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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