Seattle Genetics, Inc. (NASDAQ:SGEN) has been given a $46.00 price objective by analysts at Cantor Fitzgerald in a research report issued on Tuesday. The firm currently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price target indicates a potential downside of 20.30% from the company’s previous close.

SGEN has been the subject of a number of other reports. Barclays PLC reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Friday, June 23rd. BidaskClub cut shares of Seattle Genetics from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. began coverage on shares of Seattle Genetics in a report on Tuesday. They set a “hold” rating for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a report on Thursday, July 27th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $54.00 target price on shares of Seattle Genetics in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $61.00.

Seattle Genetics (NASDAQ:SGEN) opened at 57.715 on Tuesday. The company’s market capitalization is $8.25 billion. The company has a 50-day moving average of $53.05 and a 200 day moving average of $57.64. Seattle Genetics has a 12-month low of $45.31 and a 12-month high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data 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. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The firm had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $105.92 million. During the same period in the previous year, the company earned ($0.23) earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts forecast that Seattle Genetics will post ($1.69) earnings per share for the current fiscal year.

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In related news, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $53.49, for a total transaction of $1,007,323.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Eric Dobmeier sold 25,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $52.24, for a total transaction of $1,306,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,929 shares of company stock valued at $8,342,308. Company insiders own 34.70% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Verition Fund Management LLC bought a new position in shares of Seattle Genetics during the second quarter worth $338,000. Tower Research Capital LLC TRC boosted its position in shares of Seattle Genetics by 6,835.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the biotechnology company’s stock worth $223,000 after acquiring an additional 4,238 shares during the last quarter. DRW Securities LLC bought a new position in shares of Seattle Genetics during the second quarter worth $207,000. The Manufacturers Life Insurance Company boosted its position in shares of Seattle Genetics by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock worth $250,000 after acquiring an additional 299 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Seattle Genetics by 6.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock worth $2,080,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

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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