Seattle Genetics, Inc. (NASDAQ:SGEN) was upgraded by equities research analysts at TheStreet from a “d” rating to a “c” rating in a research note issued on Thursday.

Several other equities research analysts also recently commented on the stock. Guggenheim restated a “buy” rating and issued a $72.00 target price on shares of Seattle Genetics in a research note on Monday, October 23rd. The Goldman Sachs Group, Inc. reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Seattle Genetics in a report on Friday, October 6th. ValuEngine cut Seattle Genetics from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $53.00 price target on shares of Seattle Genetics in a report on Thursday, September 14th. Finally, Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Seattle Genetics currently has a consensus rating of “Hold” and an average price target of $63.53.

Shares of Seattle Genetics (NASDAQ:SGEN) opened at $59.79 on Thursday. Seattle Genetics has a 52 week low of $45.31 and a 52 week high of $73.91.

Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The company had revenue of $135.29 million for the quarter, compared to the consensus estimate of $112.76 million. During the same quarter in the previous year, the company earned ($0.23) EPS. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. research analysts forecast that Seattle Genetics will post -0.93 earnings per share for the current fiscal year.

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In other Seattle Genetics news, CEO Clay B. Siegall sold 25,506 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $47.89, for a total transaction of $1,221,482.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $61.18, for a total value of $1,152,141.76. The disclosure for this sale can be found here. Insiders sold a total of 263,165 shares of company stock valued at $14,403,647 over the last quarter. 34.70% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services Inc boosted its position in Seattle Genetics by 0.4% during the 2nd quarter. Commonwealth Equity Services Inc now owns 5,942 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 25 shares during the last quarter. Tradewinds Capital Management LLC boosted its holdings in shares of Seattle Genetics by 2.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock valued at $147,000 after buying an additional 52 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Seattle Genetics by 0.5% in the 1st quarter. Neuberger Berman Group LLC now owns 12,630 shares of the biotechnology company’s stock valued at $794,000 after buying an additional 59 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of Seattle Genetics by 0.3% in the 2nd quarter. Aperio Group LLC now owns 31,693 shares of the biotechnology company’s stock valued at $1,640,000 after buying an additional 91 shares during the last quarter. Finally, Grandfield & Dodd LLC boosted its holdings in shares of Seattle Genetics by 1.0% in the 1st quarter. Grandfield & Dodd LLC now owns 9,506 shares of the biotechnology company’s stock valued at $598,000 after buying an additional 95 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

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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