Seattle Genetics (NASDAQ:SGEN) has been given a $50.00 target price by equities research analysts at Cantor Fitzgerald in a report released on Monday. The brokerage currently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price target suggests a potential downside of 9.80% from the stock’s previous close.

SGEN has been the subject of several other reports. BidaskClub upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. Oppenheimer assumed coverage on Seattle Genetics in a research note on Tuesday, October 10th. They issued a “hold” rating for the company. Cann assumed coverage on Seattle Genetics in a research note on Wednesday, November 8th. They issued a “hold” rating for the company. Bank of America upgraded Seattle Genetics from an “underperform” rating to a “neutral” rating in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. upped their target price on Seattle Genetics from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, October 30th. Thirteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $63.76.

Seattle Genetics (NASDAQ SGEN) traded up $0.75 during midday trading on Monday, hitting $55.43. The stock had a trading volume of 559,900 shares, compared to its average volume of 656,233. The firm has a market capitalization of $7,680.00, a PE ratio of -63.71 and a beta of 2.37. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. The firm had revenue of $135.29 million during the quarter, compared to analyst estimates of $112.76 million. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.23) earnings per share. research analysts forecast that Seattle Genetics will post -0.93 earnings per share for the current fiscal year.

In other Seattle Genetics news, insider Vaughn B. Himes sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $55.40, for a total value of $1,043,292.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 138,378 shares of company stock valued at $8,121,108. 34.70% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of SGEN. Manning & Napier Advisors LLC purchased a new stake in Seattle Genetics during the third quarter valued at about $140,098,000. Capital International Investors boosted its position in shares of Seattle Genetics by 63.7% in the third quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock worth $242,682,000 after buying an additional 1,735,657 shares during the period. Janus Henderson Group PLC boosted its position in shares of Seattle Genetics by 8,672.2% in the second quarter. Janus Henderson Group PLC now owns 704,673 shares of the biotechnology company’s stock worth $36,460,000 after buying an additional 696,640 shares during the period. Pictet Asset Management Ltd. boosted its position in shares of Seattle Genetics by 79.3% in the third quarter. Pictet Asset Management Ltd. now owns 1,266,426 shares of the biotechnology company’s stock worth $68,906,000 after buying an additional 560,110 shares during the period. Finally, Capital Guardian Trust Co. boosted its position in shares of Seattle Genetics by 82.2% in the third quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock worth $57,909,000 after buying an additional 480,044 shares during the period. 98.89% of the stock is owned by hedge funds and other institutional investors.

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About Seattle Genetics

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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