Seattle Genetics Director Felix Baker Buys 546,252 Shares (SGEN)
Seattle Genetics (NASDAQ:SGEN) Director Felix Baker purchased 546,252 shares of Seattle Genetics stock in a transaction that occurred on Monday, June 9th. The shares were purchased at an average price of $38.16 per share, for a total transaction of $20,844,976.32. Following the completion of the purchase, the director now directly owns 76,997 shares in the company, valued at approximately $2,938,206. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Seattle Genetics (NASDAQ:SGEN) traded up 3.10% during mid-day trading on Monday, hitting $38.62. 1,162,179 shares of the company’s stock traded hands. Seattle Genetics has a 1-year low of $28.15 and a 1-year high of $55.99. The stock has a 50-day moving average of $35.98 and a 200-day moving average of $42.68. The company’s market cap is $4.756 billion.
Seattle Genetics (NASDAQ:SGEN) last released its earnings data on Thursday, May 1st. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.21) by $0.08. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $64.62 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. On average, analysts predict that Seattle Genetics will post $-0.91 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Bank of America upgraded shares of Seattle Genetics from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $40.00 price target on the stock, down previously from $46.00. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Seattle Genetics from $24.00 to $28.00 in a research note on Friday, May 2nd. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Seattle Genetics in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.02.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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