Weekly Analysts’ Ratings Updates for Seattle Genetics (SGEN)

Seattle Genetics (NASDAQ: SGEN) has recently received a number of price target changes and ratings updates:

  • 8/7/2019 – Seattle Genetics was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/19/2019 – Seattle Genetics had its “buy” rating reaffirmed by analysts at William Blair.
  • 7/18/2019 – Seattle Genetics is now covered by analysts at Deutsche Bank AG. They set a “hold” rating and a $79.00 price target on the stock.
  • 7/17/2019 – Seattle Genetics was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 7/17/2019 – Seattle Genetics was upgraded by analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating. They now have a $75.00 price target on the stock, up previously from $64.00.
  • 7/13/2019 – Seattle Genetics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/12/2019 – Seattle Genetics was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 6/10/2019 – Seattle Genetics was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of NASDAQ SGEN traded down $0.34 during midday trading on Wednesday, hitting $74.80. 482,120 shares of the stock traded hands, compared to its average volume of 927,506. The company has a market capitalization of $12.10 billion, a P/E ratio of -45.33 and a beta of 2.04. Seattle Genetics, Inc. has a one year low of $50.71 and a one year high of $84.37. The company’s 50 day moving average is $71.28.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Tuesday, July 16th. The biotechnology company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.10). The firm had revenue of $218.45 million for the quarter, compared to the consensus estimate of $189.76 million. Seattle Genetics had a negative net margin of 36.94% and a negative return on equity of 17.16%. The company’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, sell-side analysts predict that Seattle Genetics, Inc. will post -1.31 EPS for the current year.

In other news, insider Clay B. Siegall sold 20,148 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $68.06, for a total transaction of $1,371,272.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vaughn B. Himes sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $65.94, for a total value of $527,520.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,684 shares of company stock valued at $5,709,532. Corporate insiders own 33.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGEN. Meeder Asset Management Inc. purchased a new position in shares of Seattle Genetics during the first quarter valued at approximately $394,000. Gateway Investment Advisers LLC boosted its position in shares of Seattle Genetics by 10.6% during the second quarter. Gateway Investment Advisers LLC now owns 68,897 shares of the biotechnology company’s stock valued at $4,768,000 after buying an additional 6,617 shares during the last quarter. Norges Bank purchased a new position in shares of Seattle Genetics during the fourth quarter valued at approximately $44,082,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Seattle Genetics by 8.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,876 shares of the biotechnology company’s stock valued at $2,967,000 after buying an additional 3,400 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Seattle Genetics by 3.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 57,725 shares of the biotechnology company’s stock valued at $4,477,000 after buying an additional 1,947 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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