Seattle Genetics Receives Average Rating of “Hold” from Brokerages (NASDAQ:SGEN)
Shares of Seattle Genetics (NASDAQ:SGEN) have earned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the stock, Analyst Ratings Network reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $45.23.
Shares of Seattle Genetics (NASDAQ:SGEN) traded down 3.57% during mid-day trading on Tuesday, hitting $36.17. The stock had a trading volume of 603,986 shares. Seattle Genetics has a 1-year low of $32.35 and a 1-year high of $55.99. The stock has a 50-day moving average of $37.53 and a 200-day moving average of $42.46. The company’s market cap is $4.454 billion.
Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, May 1st. The company reported ($0.13) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.14) earnings per share. Seattle Genetics’s revenue was up 19.2% compared to the same quarter last year. 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 Zacks upgraded shares of Seattle Genetics from a “neutral” rating to an “outperform” rating in a research note on Monday. They now have a $42.10 price target on the stock. Separately, 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. Finally, 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.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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