Seattle Genetics, Inc. (NASDAQ:SGEN)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $53.00 price objective on the biotechnology company’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 0.06% from the stock’s previous close.

Several other brokerages also recently issued reports on SGEN. HC Wainwright raised their price objective on shares of Seattle Genetics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Cann reiterated a “hold” rating on shares of Seattle Genetics in a research report on Thursday, April 27th. Zacks Investment Research upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Seattle Genetics in a research report on Saturday, June 3rd. Finally, Cowen and Company set a $61.00 price target on shares of Seattle Genetics and gave the company a “hold” rating in a research report on Tuesday, June 6th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Seattle Genetics has a consensus rating of “Hold” and an average target price of $60.47.

Seattle Genetics (NASDAQ SGEN) traded down 3.73% during trading on Thursday, reaching $52.97. The company’s stock had a trading volume of 1,178,414 shares. Seattle Genetics has a 52-week low of $42.58 and a 52-week high of $75.36. The stock’s market cap is $7.56 billion. The firm’s 50-day moving average is $57.09 and its 200-day moving average is $62.02.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Thursday, April 27th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.01. The company had revenue of $109.10 million for the quarter, compared to analyst estimates of $103.23 million. Seattle Genetics had a negative return on equity of 27.98% and a negative net margin of 43.17%. The company’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.15) earnings per share. Equities research analysts forecast that Seattle Genetics will post ($1.66) EPS for the current year.

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In related news, CMO Jonathan G. Drachman sold 10,000 shares of Seattle Genetics stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $64.01, for a total value of $640,100.00. Following the transaction, the chief marketing officer now directly owns 125,204 shares of the company’s stock, valued at $8,014,308.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Clay B. Siegall sold 10,423 shares of Seattle Genetics stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $51.98, for a total transaction of $541,787.54. The disclosure for this sale can be found here. Insiders sold 30,846 shares of company stock worth $1,861,571 over the last three months. 33.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SGEN. Tradewinds Capital Management LLC boosted its position in shares of Seattle Genetics by 2.3% in the first quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock worth $147,000 after buying an additional 52 shares during the period. Neuberger Berman Group LLC boosted its stake in Seattle Genetics by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 12,630 shares of the biotechnology company’s stock worth $794,000 after buying an additional 59 shares during the last quarter. Aperio Group LLC boosted its stake in Seattle Genetics by 0.3% in the second quarter. Aperio Group LLC now owns 31,693 shares of the biotechnology company’s stock worth $1,640,000 after buying an additional 91 shares during the last quarter. Grandfield & Dodd LLC boosted its stake in Seattle Genetics by 1.0% in the first quarter. Grandfield & Dodd LLC now owns 9,506 shares of the biotechnology company’s stock worth $598,000 after buying an additional 95 shares during the last quarter. Finally, Atria Investments LLC boosted its stake in Seattle Genetics by 3.5% in the first quarter. Atria Investments LLC now owns 4,207 shares of the biotechnology company’s stock worth $264,000 after buying an additional 143 shares during the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

About Seattle Genetics

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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