Seattle Genetics (NASDAQ:SGEN) PT Set at $50.00 by Cantor Fitzgerald

Seattle Genetics (NASDAQ:SGEN) has been given a $50.00 price target by research analysts at Cantor Fitzgerald in a report issued on Monday, January 8th. The firm presently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s target price points to a potential downside of 4.51% from the stock’s previous close.

A number of other equities research analysts have also issued reports on SGEN. Oppenheimer reissued a “hold” rating on shares of Seattle Genetics in a report on Thursday, December 7th. Barclays raised shares of Seattle Genetics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $60.00 to $70.00 in a report on Friday, October 20th. HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of Seattle Genetics in a report on Friday, October 27th. SunTrust Banks set a $52.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a research note on Friday, October 27th. Finally, BidaskClub raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Seattle Genetics currently has a consensus rating of “Hold” and a consensus target price of $63.76.

Seattle Genetics (NASDAQ:SGEN) traded up $0.58 during trading hours on Monday, reaching $52.36. 926,600 shares of the company’s stock were exchanged, compared to its average volume of 857,744. Seattle Genetics has a 52 week low of $45.31 and a 52 week high of $71.32. The firm has a market capitalization of $7,540.00, a PE ratio of -60.18 and a beta of 2.37.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $135.29 million during the quarter, compared to analyst estimates of $112.76 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. sell-side analysts forecast that Seattle Genetics will post -0.93 EPS for the current year.

In other news, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $55.40, for a total transaction of $1,043,292.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Todd E. Simpson sold 39,385 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total transaction of $2,398,940.35. The disclosure for this sale can be found here. Insiders sold 138,378 shares of company stock worth $8,121,108 over the last quarter. 34.70% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of SGEN. Schwab Charles Investment Management Inc. grew its position in Seattle Genetics by 6.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 296,212 shares of the biotechnology company’s stock valued at $15,327,000 after buying an additional 17,130 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Seattle Genetics by 6.8% in the second quarter. Prudential Financial Inc. now owns 6,291 shares of the biotechnology company’s stock valued at $325,000 after acquiring an additional 400 shares during the period. Swiss National Bank lifted its holdings in Seattle Genetics by 3.6% in the second quarter. Swiss National Bank now owns 363,800 shares of the biotechnology company’s stock valued at $18,823,000 after acquiring an additional 12,800 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Seattle Genetics in the second quarter valued at $343,000. Finally, Tredje AP fonden lifted its holdings in Seattle Genetics by 3.7% in the second quarter. Tredje AP fonden now owns 15,470 shares of the biotechnology company’s stock valued at $800,000 after acquiring an additional 550 shares during the period. Hedge funds and other institutional investors own 98.89% of the company’s stock.

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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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