Seattle Genetics (NASDAQ: SGEN) recently received a number of ratings updates from brokerages and research firms:

  • 10/16/2017 – Seattle Genetics was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Seattle Genetics has upped its guidance for 2017 driven by a robust performance of Adcetris in the first half. We are also encouraged by the company’s efforts to expand the drug’s label. The company’s collaboration with Takeda for the global development and commercialization of Adcetris is encouraging. However, dependence on one product – Adcetris– for growth has its inherent risks.The recent label expansion of Merck’s Keytruda in the lymphoma indication is likely to increase competition. Though the company has multiple candidates in its pipeline, most of them are in early stages of development. The company’s shares have underperformed the industry year to date. Estimates have remained stable ahead of the Q3 earnings results. The company has a mixed record of earnings surprises in recent quarters.”
  • 10/16/2017 – Seattle Genetics had its price target raised by analysts at Barclays PLC from $55.00 to $60.00. They now have an “equal weight” rating on the stock.
  • 10/10/2017 – Seattle Genetics was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $64.00 price target on the stock. According to Zacks, “Seattle Genetics has upped its guidance for 2017 driven by a robust performance of Adcetris in the first half. We are also encouraged by the company’s efforts to expand the drug’s label. The company’s collaboration with Takeda for the global development and commercialization of Adcetris is encouraging. However, dependence on one product – Adcetris– for growth has its inherent risks.The recent label expansion of Merck’s Keytruda in the lymphoma indication is likely to increase competition. Though the company has multiple candidates in its pipeline, most of them are in early stages of development. The company’s shares have underperformed the industry year to date. Estimates have remained stable ahead of the Q3 earnings results. The company has a mixed record of earnings surprises in recent quarters.”
  • 10/10/2017 – Seattle Genetics is now covered by analysts at Oppenheimer Holdings, Inc.. They set a “hold” rating on the stock.
  • 10/10/2017 – Seattle Genetics was given a new $46.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 10/6/2017 – Seattle Genetics had its “neutral” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $64.00 price target on the stock.
  • 10/4/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $45.00 price target on the stock.
  • 10/2/2017 – Seattle Genetics was given a new $46.00 price target on by analysts at Cantor Fitzgerald. They now have a “hold” rating on the stock.
  • 9/14/2017 – Seattle Genetics had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $53.00 price target on the stock.
  • 9/14/2017 – Seattle Genetics is now covered by analysts at Royal Bank Of Canada. They set an “outperform” rating and a $58.00 price target on the stock.
  • 9/8/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Cann. They wrote, “Seattle Genetics announced today that preliminary clinical data for tisotumab vedotin from a Genmab-sponsored phase I/II clinical trial, GEN701, are being featured in an oral presentation at ESMO. Data were reported from an expansion cohort of the study including 34 patients with relapsed, recurrent and/or metastatic cervical cancer. It was reported that 32% of these patients achieved a response and 50% of patients achieved clinical benefit after 12 weeks. Median duration of confirmed responses was 8.3 months.””
  • 9/8/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 9/1/2017 – Seattle Genetics was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 8/29/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald.
  • 8/29/2017 – Seattle Genetics had its “hold” rating reaffirmed by analysts at Cann. They wrote, “Seattle Genetics and Genmab announced today that Seattle Genetics has exercised its option to co-develop the compound tisotumab vedotin, under its existing collaboration agreement with Genmab. The companies originally entered into a commercial license and collaboration agreement in October 2011 that gave Seattle Genetics the right to exercise a co-development option for tisotumab vedotin at the end of its phase I clinical development.””

Shares of Seattle Genetics, Inc. (NASDAQ SGEN) traded up 2.24% during midday trading on Tuesday, reaching $64.30. 860,805 shares of the company were exchanged. The stock’s 50-day moving average price is $54.50 and its 200-day moving average price is $57.59. The company’s market capitalization is $9.20 billion. Seattle Genetics, Inc. has a 52-week low of $45.31 and a 52-week high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The firm had revenue of $108.20 million for the quarter, compared to the consensus estimate of $105.92 million. During the same period in the prior year, the firm posted ($0.23) EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Analysts anticipate that Seattle Genetics, Inc. will post ($1.69) EPS for the current year.

In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $61.18, for a total transaction of $1,152,141.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Clay B. Siegall sold 10,413 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $48.91, for a total transaction of $509,299.83. The disclosure for this sale can be found here. Insiders have sold a total of 183,761 shares of company stock worth $9,494,450 over the last quarter. 34.70% of the stock is currently owned by insiders.

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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