Seattle Genetics Upgraded to “Outperform” at Zacks (SGEN)
Seattle Genetics (NASDAQ:SGEN) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday. The firm currently has a $42.10 target price on the stock. Zacks‘s target price would indicate a potential upside of 8.93% from the stock’s previous close.
Several other analysts have also 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 equities research 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. Seattle Genetics currently has a consensus rating of “Hold” and a consensus target price of $45.23.
Shares of Seattle Genetics (NASDAQ:SGEN) traded down 3.44% on Monday, hitting $37.32. 614,153 shares of the company’s stock traded hands. Seattle Genetics has a 1-year low of $32.35 and a 1-year high of $55.99. The stock’s 50-day moving average is $37.37 and its 200-day moving average is $42.40. The company’s market cap is $4.596 billion.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly 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.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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