Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) have earned a consensus recommendation of “Hold” from the twenty-four ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $63.36.

Several brokerages have recently weighed in on SGEN. Barclays PLC restated a “hold” rating on shares of Seattle Genetics in a research note on Friday, June 23rd. BidaskClub downgraded shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. TheStreet downgraded shares of Seattle Genetics from a “c-” rating to a “d” rating in a research note on Tuesday, May 9th. Jefferies Group LLC restated a “buy” rating and issued a $53.00 target price on shares of Seattle Genetics in a research note on Thursday, July 27th. Finally, ValuEngine upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd.

In other news, CEO Clay B. Siegall sold 10,423 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $51.98, for a total value of $541,787.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Jonathan G. Drachman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $54.54, for a total transaction of $545,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,846 shares of company stock worth $2,406,971. Insiders own 33.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tradewinds Capital Management LLC increased its position in 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 last quarter. Neuberger Berman Group LLC increased its position 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 increased its position 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 increased its position 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 increased its position 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. Institutional investors own 97.91% of the company’s stock.

Shares of Seattle Genetics (NASDAQ SGEN) opened at 48.88 on Tuesday. The stock’s 50 day moving average is $55.57 and its 200 day moving average is $61.84. The stock’s market capitalization is $6.99 billion. Seattle Genetics has a 52-week low of $42.58 and a 52-week high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.03. The business had revenue of $108.20 million during the quarter, compared to the consensus estimate of $105.92 million. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) earnings per share. Equities research analysts expect that Seattle Genetics will post ($1.70) earnings per share for the current fiscal year.

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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 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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