Research Analysts’ Weekly Ratings Updates for Seattle Genetics (SGEN)
Several analysts have recently updated their ratings and price targets for Seattle Genetics (NASDAQ: SGEN):
- 9/16/2016 – Seattle Genetics was downgraded by analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “sell” rating.
- 9/16/2016 – Seattle Genetics had its “buy” rating reaffirmed by analysts at Leerink Swann. They now have a $62.00 price target on the stock.
- 9/15/2016 – Seattle Genetics was upgraded by analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating. They now have a $47.00 price target on the stock, up previously from $30.00.
- 9/7/2016 – Seattle Genetics is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $60.00 price target on the stock.
- 8/1/2016 – Seattle Genetics had its price target raised by analysts at Leerink Swann from $50.00 to $52.00. They now have an “outperform” rating on the stock.
- 7/27/2016 – Seattle Genetics was downgraded by analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating. They now have a $43.00 price target on the stock.
- 7/27/2016 – Seattle Genetics had its price target raised by analysts at SunTrust Banks Inc. from $34.00 to $38.00. They now have a “neutral” rating on the stock.
- 7/27/2016 – Seattle Genetics had its price target raised by analysts at Barclays PLC from $48.00 to $53.00. They now have an “overweight” rating on the stock.
- 7/27/2016 – Seattle Genetics had its “outperform” rating reaffirmed by analysts at RBC Capital Markets.
Seattle Genetics Inc. (NASDAQ:SGEN) traded down 1.31% during mid-day trading on Wednesday, hitting $54.07. The company had a trading volume of 160,920 shares. Seattle Genetics Inc. has a 52-week low of $26.02 and a 52-week high of $55.73. The stock’s 50 day moving average price is $47.99 and its 200 day moving average price is $40.82. The firm’s market cap is $7.60 billion.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Tuesday, July 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.09. Seattle Genetics had a negative return on equity of 15.29% and a negative net margin of 27.21%. The firm had revenue of $95.40 million for the quarter, compared to analysts’ expectations of $94.56 million. During the same quarter in the prior year, the firm posted ($0.38) earnings per share. Seattle Genetics’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities research analysts predict that Seattle Genetics Inc. will post ($1.00) EPS for the current fiscal year.
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In other Seattle Genetics news, EVP Vaughn B. Himes sold 3,991 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $46.59, for a total transaction of $185,940.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Clay B. Siegall sold 7,618 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $40.56, for a total value of $308,986.08. The disclosure for this sale can be found here. Company insiders own 33.30% of the company’s stock.
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).
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