Seattle Genetics Receives Average Recommendation of “Hold” from Brokerages (NASDAQ:SGEN)
Shares of Seattle Genetics (NASDAQ:SGEN) have been given an average rating of “Hold” by the twelve analysts that are currently covering the company, AnalystRatingsNetwork reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $44.76.
Separately, analysts at Zacks downgraded shares of Seattle Genetics from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $46.10 price target on the stock.
In other Seattle Genetics news, CEO Clay B. Siegall sold 11,200 shares of Seattle Genetics stock on the open market in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $40.38, for a total transaction of $452,256.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Seattle Genetics (NASDAQ:SGEN) traded down 1.03% on Wednesday, hitting $42.813. 128,318 shares of the company’s stock traded hands. Seattle Genetics has a 52-week low of $32.35 and a 52-week high of $55.99. The stock has a 50-day moving average of $37.41 and a 200-day moving average of $41.20. The company’s market cap is $5.285 billion.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue 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.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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