Seattle Genetics Given Average Rating of “Hold” by Brokerages (NASDAQ:SGEN)
Seattle Genetics (NASDAQ:SGEN) has received an average rating of “Hold” from the thirteen brokerages that are covering the company, AR Network reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $44.42.
Shares of Seattle Genetics (NASDAQ:SGEN) traded down 0.75% during mid-day trading on Tuesday, hitting $53.92. The stock had a trading volume of 499,630 shares. Seattle Genetics has a 52-week low of $26.68 and a 52-week high of $55.86. The stock’s 50-day moving average is $46.07 and its 200-day moving average is $42.93. The company’s market cap is $6.606 billion.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.13) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.09) earnings per share. Seattle Genetics’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that Seattle Genetics will post $-0.98 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Thomson Reuters/Verus upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Monday. Separately, analysts at Bank of America initiated coverage on shares of Seattle Genetics in a research note on Monday. They set an “underperform” rating and a $46.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Seattle Genetics from $46.00 to $51.00 in a research note on Thursday, February 13th.
In other Seattle Genetics news, CEO Clay Siegall sold 100,000 shares of Seattle Genetics stock on the open market in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $51.97, for a total value of $5,197,000.00. Following the transaction, the chief executive officer now directly owns 955,696 shares of the company’s stock, valued at approximately $49,667,521. The transaction was disclosed in a document filed 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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