Seattle Genetics PT Raised to $48.00 at UBS AG (SGEN)
Stock analysts at UBS AG increased their target price on shares of Seattle Genetics (NASDAQ:SGEN) from $36.00 to $48.00 in a report issued on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price objective suggests a potential upside of 16.70% from the company’s current price.
Seattle Genetics (NASDAQ:SGEN) traded down 6.90% during mid-day trading on Tuesday, hitting $41.13. 1,277,902 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’s 50-day moving average is $44.46 and its 200-day moving average is $38.42. The company’s market cap is $5.011 billion.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data 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. On average, analysts predict that Seattle Genetics will post $-0.68 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Seattle Genetics from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $49.20 price target on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.80.
In other Seattle Genetics news, CEO Clay B. Siegall sold 2,000 shares of Seattle Genetics stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at 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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