Seattle Genetics Given Consensus Rating of “Hold” by Brokerages (NASDAQ:SGEN)
Seattle Genetics (NASDAQ:SGEN) has received an average rating of “Hold” from the twelve analysts that are presently covering the company, American Banking & Market News reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $44.76.
In other Seattle Genetics news, CEO Clay B. Siegall unloaded 11,200 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $40.38, for a total value of $452,256.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Seattle Genetics (NASDAQ:SGEN) opened at 42.86 on Wednesday. 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 $37.76 and its 200-day moving average is $41.22. The company’s market cap is $5.291 billion.
Seattle Genetics (NASDAQ:SGEN) last announced its 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 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.
Separately, analysts at Zacks downgraded shares of Seattle Genetics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 19th. They now have a $46.10 price target on the stock.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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