Seattle Genetics Price Target Increased to $38.00 by Analysts at Guggenheim (SGEN)
Equities researchers at Guggenheim boosted their price target on shares of Seattle Genetics (NASDAQ:SGEN) from $33.00 to $38.00 in a research report issued on Thursday, AnalystRatings.NET reports. Guggenheim’s target price would indicate a potential downside of 25.40% from the stock’s previous close.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.11. The company had revenue of $67.40 million for the quarter, compared to the consensus estimate of $59.50 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis.
A number of other analysts have also recently weighed in on SGEN. Analysts at Needham & Company upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a research note on Wednesday. Separately, analysts at RBC Capital raised their price target on shares of Seattle Genetics from $44.00 to $48.00 in a research note on Friday, December 20th. Finally, analysts at Piper Jaffray reiterated an “underweight” rating on shares of Seattle Genetics in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $44.24.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.