Recent Research Analysts’ Ratings Updates for Seattle Genetics (SGEN)

A number of firms have modified their ratings and price targets on shares of Seattle Genetics (NASDAQ: SGEN) recently:

  • 2/7/2018 – Seattle Genetics had its price target lowered by analysts at Bank of America Corp from $70.00 to $68.00. They now have a “neutral” rating on the stock.
  • 2/7/2018 – Seattle Genetics had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $74.00 price target on the stock, up previously from $72.00.
  • 2/7/2018 – Seattle Genetics had its “hold” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $60.00 price target on the stock.
  • 2/7/2018 – Seattle Genetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They wrote, “to Approval on June 25 PDUFA; Raise PT to $31 Stock Data 02/06/2018 Price $10.79 Exchange NASDAQ Price Target $31.00 52-Week High $27.79 52-Week Low $9.88 Enterprise Value (M) $282.5 Market Cap (M) $457 Public Market Float (M) 23.8 Shares Outstanding (M) 42.4 3 Month Avg Volume 1,154,580 Short Interest (M) 10.70 Shares Outstanding (M): Figure shown is as of November 2, 2017. Balance Sheet Metrics Cash (M) $199.4 Total Debt (M) $24.9 Total Cash/Share $4.70 Book Value/Share $3.55 Cash (M): Amount shown is as of September 30, 2017. EPS Diluted Full Year – Dec 2016A 2017E 2018E 1Q (0.66) (0.93)A (0.79) 2Q (0.87) (0.78)A (0.82) 3Q (0.41) (0.85)A (0.76) 4Q (1.04) (0.83) (0.75) FY (3.00) (3.10) (3.11) Revenue ($M) Full Year – Dec 2016A 2017E 2018E 1Q 5.8 7.5A 0.6 2Q 9.1 1.3A 0.7 3Q 16.0 0.6A 1.2 4Q 10.7 0.8 1.8 FY 41.8 10.1 4.3 30 25 20 15 10 5 FEB- 17 J UN- 17 OCT- 17 FEB- 18 6 5 4 3 2 1 0 Vol. (mil) Price Manufacturing overhang lifted with VAI status at McPherson site.””
  • 2/1/2018 – Seattle Genetics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $75.00 price target on the stock.
  • 1/13/2018 – Seattle Genetics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/9/2018 – Seattle Genetics had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co.. They wrote, “Forecasts; We Expect Shares to Be Pressured Monday morning, ViewRay announced preliminary 2017 revenue of $34M and 4Q17 orders of $34M. Both metrics were significantly below our expectations. With so much investor focus on system sales and conversion to revenue, we expect VRAY to trade off today.   The company recognized revenue on 4 MRIdian Linac Systems in the quarter. For the full year, VRAY announced total revenue of $34M. We had modeled $42.5M in revenue for the full year. Management noted that revenue recognition was delayed on one of the 5 systems shipped or installed in the quarter. That delay should result in $7M in revenue recognized in a later period. Investors have been eager to see backlog convert to revenue and this miss is likely to disappoint.   In the quarter, VRAY received $34M in new MRIdian Linac System orders, less than the $48M we had forecasted. That order number is lower the company’s orders in the second quarter and likely does not demonstrate enough of an uptick in momentum from the $29.9M order reported in 3Q.””
  • 1/8/2018 – Seattle Genetics was given a new $50.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 1/2/2018 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 12/30/2017 – Seattle Genetics was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Seattle Genetics, Inc. (NASDAQ:SGEN) opened at $50.14 on Monday. Seattle Genetics, Inc. has a 1-year low of $45.31 and a 1-year high of $71.32. The company has a market cap of $7,220.00, a PE ratio of -56.34 and a beta of 2.08.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.02. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 33.36%. The firm had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. During the same period last year, the firm earned ($0.39) EPS. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. equities analysts anticipate that Seattle Genetics, Inc. will post -1.58 EPS for the current year.

In related news, insider Vaughn B. Himes sold 10,000 shares of Seattle Genetics stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $59.97, for a total transaction of $599,700.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $51.71, for a total transaction of $973,802.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,993 shares of company stock worth $5,603,714. Insiders own 34.70% of the company’s stock.

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).

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