Seattle Genetics (NASDAQ:SGEN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Seattle Genetics in a research note on Tuesday. Cantor Fitzgerald set a $50.00 price target on Seattle Genetics and gave the company a “hold” rating in a research note on Monday, January 8th. Oppenheimer reiterated a “hold” rating on shares of Seattle Genetics in a research note on Tuesday, January 2nd. Cowen reiterated a “hold” rating and issued a $54.00 price target on shares of Seattle Genetics in a research note on Monday, December 11th. Finally, TheStreet upgraded Seattle Genetics from a “d” rating to a “c” rating in a research note on Thursday, November 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $63.76.

Seattle Genetics (SGEN) traded up $0.58 during trading on Friday, reaching $52.36. The company’s stock had a trading volume of 926,614 shares, compared to its average volume of 785,170. Seattle Genetics has a 52 week low of $45.31 and a 52 week high of $71.32. The stock has a market capitalization of $7,452.61, a PE ratio of -60.88 and a beta of 2.37.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.23. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The company had revenue of $135.29 million during the quarter, compared to analysts’ expectations of $112.76 million. During the same period last year, the business posted ($0.23) earnings per share. The firm’s revenue was up 27.3% compared to the same quarter last year. equities analysts expect that Seattle Genetics will post -0.93 EPS for the current fiscal year.

In other news, CFO Todd E. Simpson sold 39,385 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Eric Dobmeier sold 35,000 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $58.25, for a total value of $2,038,750.00. The disclosure for this sale can be found here. Insiders sold 138,378 shares of company stock worth $8,121,108 over the last three months. Corporate insiders own 34.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Griffin Asset Management Inc. acquired a new position in shares of Seattle Genetics in the third quarter valued at about $260,000. Virtu Financial LLC acquired a new stake in Seattle Genetics during the third quarter worth about $203,000. Capital Bank & Trust Co grew its holdings in Seattle Genetics by 43.7% during the third quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock worth $45,406,000 after acquiring an additional 253,753 shares during the period. Capital International Investors grew its holdings in Seattle Genetics by 63.7% during the third quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock worth $242,682,000 after acquiring an additional 1,735,657 shares during the period. Finally, Capital Guardian Trust Co. grew its holdings in Seattle Genetics by 82.2% during the third quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock worth $57,909,000 after acquiring an additional 480,044 shares during the period. 98.89% of the stock is currently owned by institutional investors and hedge funds.

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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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