Seattle Genetics (NASDAQ:SGEN) Earns Hold Rating from Analysts at Deutsche Bank

Deutsche Bank started coverage on shares of Seattle Genetics (NASDAQ:SGEN) in a research report released on Thursday, July 18th, Stock Target Advisor reports. The firm issued a hold rating and a $79.00 target price on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on SGEN. BidaskClub downgraded shares of Seattle Genetics from a hold rating to a sell rating in a research note on Saturday, July 13th. Stifel Nicolaus initiated coverage on shares of Seattle Genetics in a research note on Wednesday, April 10th. They issued a hold rating and a $70.00 price target for the company. Berenberg Bank began coverage on shares of Seattle Genetics in a research note on Wednesday, March 27th. They issued a buy rating and a $95.00 price target for the company. ValuEngine raised shares of Seattle Genetics from a buy rating to a strong-buy rating in a report on Wednesday, July 17th. Finally, Piper Jaffray Companies raised shares of Seattle Genetics from a neutral rating to an overweight rating and raised their price objective for the stock from $64.00 to $75.00 in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Seattle Genetics has an average rating of Buy and a consensus price target of $84.36.

Seattle Genetics stock traded down $0.19 during midday trading on Thursday, hitting $76.88. 385,647 shares of the stock were exchanged, compared to its average volume of 1,542,802. Seattle Genetics has a fifty-two week low of $50.71 and a fifty-two week high of $84.37. The firm has a market cap of $12.46 billion, a PE ratio of -46.59 and a beta of 2.04. The stock’s 50-day moving average price is $71.49.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.10). Seattle Genetics had a negative return on equity of 17.16% and a negative net margin of 36.94%. The firm had revenue of $218.45 million for the quarter, compared to analyst estimates of $189.76 million. During the same quarter in the previous year, the business posted $0.47 earnings per share. Seattle Genetics’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, analysts expect that Seattle Genetics will post -1.31 EPS for the current fiscal year.

In other Seattle Genetics news, insider Clay B. Siegall sold 20,148 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $69.05, for a total transaction of $1,391,219.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vaughn B. Himes sold 8,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $65.94, for a total transaction of $527,520.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,577 shares of company stock worth $5,833,478 over the last 90 days. Insiders own 33.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank boosted its position in shares of Seattle Genetics by 4.3% in the 1st quarter. Comerica Bank now owns 3,801 shares of the biotechnology company’s stock worth $308,000 after buying an additional 157 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Seattle Genetics by 1.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,738 shares of the biotechnology company’s stock valued at $1,153,000 after purchasing an additional 165 shares in the last quarter. Gateway Investment Advisers LLC lifted its holdings in Seattle Genetics by 0.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 62,280 shares of the biotechnology company’s stock valued at $4,561,000 after purchasing an additional 171 shares in the last quarter. ETF Managers Group LLC lifted its holdings in Seattle Genetics by 7.7% in the 1st quarter. ETF Managers Group LLC now owns 2,733 shares of the biotechnology company’s stock valued at $200,000 after purchasing an additional 196 shares in the last quarter. Finally, Advisor Group Inc. lifted its holdings in Seattle Genetics by 20.8% in the 4th quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 232 shares in the last quarter. Institutional investors own 99.76% of the company’s stock.

About Seattle Genetics

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.

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Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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