Seattle Genetics PT Raised to $42.00 at Goldman Sachs Group Inc. (SGEN)
Equities researchers at Goldman Sachs Group Inc. boosted their price target on shares of Seattle Genetics (NASDAQ:SGEN) from $37.00 to $42.00 in a research report issued on Wednesday, Analyst Ratings Network reports. Goldman Sachs Group Inc.’s price objective would indicate a potential downside of 11.15% from the stock’s previous close.
Shares of Seattle Genetics (NASDAQ:SGEN) traded down 1.25% on Wednesday, hitting $47.27. 859,601 shares of the company’s stock traded hands. Seattle Genetics has a 52 week low of $21.05 and a 52 week high of $49.23. The stock has a 50-day moving average of $43.22 and a 200-day moving average of $37.12. The company’s market cap is $5.760 billion.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.15) earnings per share. Seattle Genetics’s revenue was up 1485.2% compared to the same quarter last year. On average, analysts predict that Seattle Genetics will post $-0.68 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on SGEN. 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 analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.58.
In other Seattle Genetics news, COO Eric Dobmeier unloaded 42,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $46.40, for a total transaction of $1,948,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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