Seattle Genetics Stock Rating Upgraded by Zacks (SGEN)
Seattle Genetics (NASDAQ:SGEN) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, Stock Ratings News reports. The firm currently has a $49.20 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 8.49% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Seattle Genetics from $37.00 to $42.00 in a research note to investors on Wednesday, September 18th. Separately, analysts at Leerink Swann raised their price target on shares of Seattle Genetics from $42.00 to $53.00 in a research note to investors on Monday, August 5th. Finally, analysts at Credit Suisse raised their price target on shares of Seattle Genetics from $40.00 to $46.00 in a research note to investors on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.47.
Seattle Genetics (NASDAQ:SGEN) traded down 2.07% on Monday, hitting $44.41. The stock had a trading volume of 223,845 shares. Seattle Genetics has a 1-year low of $21.05 and a 1-year high of $49.23. The stock has a 50-day moving average of $44.37 and a 200-day moving average of $38.29. The company’s market cap is $5.411 billion.
Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Wednesday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was up 1485.2% on a year-over-year basis.
In other Seattle Genetics news, CEO Clay B. Siegall sold 2,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $43.87, for a total value of $87,740.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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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