Insider Selling: Seattle Genetics COO Unloads 42,000 Shares of Stock (SGEN)
Seattle Genetics (NASDAQ:SGEN) COO Eric Dobmeier sold 42,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $46.40, for a total value of $1,948,800.00. Following the sale, the chief operating officer now directly owns 133,843 shares in the company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Leerink Swann raised their price target on shares of Seattle Genetics (NASDAQ:SGEN) from $42.00 to $53.00 in a research note to investors on Monday, August 5th. Separately, analysts at Credit Suisse raised their price target on shares of Seattle Genetics (NASDAQ:SGEN) from $40.00 to $46.00 in a research note to investors on Friday, August 2nd. Finally, analysts at RBC Capital raised their price target on shares of Seattle Genetics (NASDAQ:SGEN) from $40.00 to $44.00 in a research note to investors on Thursday, August 1st. They now have an “outperform” rating on the stock.
One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $39.02.
Seattle Genetics (NASDAQ:SGEN) traded up 0.75% on Wednesday, hitting $47.545. The stock had a trading volume of 849,375 shares. Seattle Genetics has a 1-year low of $21.05 and a 1-year high of $47.70. The stock’s 50-day moving average is $42.25 and its 200-day moving average is $36.46. The company’s market cap is $5.793 billion.
Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Wednesday, July 31st. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.20) by $0.14. The company had revenue of $773.60 million for the quarter, compared to the consensus estimate of $58.12 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 1485.2% on a year-over-year basis. Analysts expect that Seattle Genetics will post $-0.68 EPS for the current fiscal year.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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