Seattle Genetics Cut to “Neutral” at Zacks (SGEN)
Seattle Genetics (NASDAQ:SGEN) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Tuesday. They currently have a $46.10 price target on the stock. Zacks‘s price objective indicates a potential upside of 7.08% from the company’s current price.
Seattle Genetics (NASDAQ:SGEN) traded up 0.23% during mid-day trading on Tuesday, hitting $43.15. The stock had a trading volume of 497,854 shares. Seattle Genetics has a 52-week low of $32.35 and a 52-week high of $55.99. The stock’s 50-day moving average is $37.27 and its 200-day moving average is $41.25. The company’s market cap is $5.327 billion.
Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, July 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.09. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $65.04 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, analysts predict that Seattle Genetics will post $-0.80 earnings per share for the current fiscal year.
In other Seattle Genetics news, CEO Clay B. Siegall sold 11,200 shares of Seattle Genetics stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $40.38, for a total value of $452,256.00. The transaction was disclosed in a filing 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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