Seattle Genetics Inc. (SGEN) Given Outperform Rating at Leerink Swann
Seattle Genetics Inc. (NASDAQ:SGEN)‘s stock had its “outperform” rating reaffirmed by stock analysts at Leerink Swann in a research note issued to investors on Monday. They currently have a $62.00 price objective on the stock. Leerink Swann’s price target would suggest a potential upside of 12.36% from the stock’s current price.
A number of other analysts also recently issued reports on SGEN. Zacks Investment Research raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday, July 4th. SunTrust Banks Inc. increased their price target on shares of Seattle Genetics from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Cantor Fitzgerald downgraded shares of Seattle Genetics from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a report on Wednesday, July 27th. Goldman Sachs Group Inc. downgraded shares of Seattle Genetics from a “neutral” rating to a “sell” rating in a report on Friday, September 16th. Finally, Royal Bank Of Canada increased their price target on shares of Seattle Genetics from $55.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $50.79.
Seattle Genetics (NASDAQ:SGEN) traded up 3.93% during mid-day trading on Monday, hitting $57.35. 307,963 shares of the stock were exchanged. The stock’s 50 day moving average is $51.03 and its 200 day moving average is $42.76. Seattle Genetics has a 52-week low of $26.02 and a 52-week high of $57.36. The stock’s market cap is $8.06 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/seattle-genetics-inc-sgen-given-outperform-rating-at-leerink-swann.html
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Tuesday, July 26th. The company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.09. The firm had revenue of $95.40 million for the quarter, compared to analyst estimates of $94.56 million. Seattle Genetics had a negative net margin of 27.21% and a negative return on equity of 15.29%. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.38) earnings per share. Analysts forecast that Seattle Genetics will post ($1.00) EPS for the current fiscal year.
In related news, EVP Vaughn B. Himes sold 3,991 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $46.59, for a total transaction of $185,940.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Jonathan G. Drachman sold 2,249 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $56.75, for a total transaction of $127,630.75. Following the sale, the chief marketing officer now owns 115,504 shares of the company’s stock, valued at $6,554,852. The disclosure for this sale can be found here. 33.30% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc boosted its stake in shares of Seattle Genetics by 0.4% in the second quarter. Commonwealth Equity Services Inc now owns 5,942 shares of the company’s stock worth $240,000 after buying an additional 25 shares in the last quarter. Fairfield Bush & CO. boosted its stake in shares of Seattle Genetics by 0.7% in the second quarter. Fairfield Bush & CO. now owns 21,822 shares of the company’s stock worth $882,000 after buying an additional 150 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Seattle Genetics by 0.5% in the second quarter. Brown Advisory Inc. now owns 34,276 shares of the company’s stock worth $1,385,000 after buying an additional 156 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Seattle Genetics by 0.7% in the second quarter. PNC Financial Services Group Inc. now owns 41,287 shares of the company’s stock worth $1,669,000 after buying an additional 292 shares in the last quarter. Finally, Grandfield & Dodd LLC boosted its stake in shares of Seattle Genetics by 5.4% in the second quarter. Grandfield & Dodd LLC now owns 8,001 shares of the company’s stock worth $323,000 after buying an additional 413 shares in the last quarter. Institutional investors and hedge funds own 97.93% of the company’s stock.
Seattle Genetics Company Profile
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).
Receive News & Ratings for Seattle Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.