Seattle Genetics (SGEN) Given “Buy” Rating at HC Wainwright
“to Approval on June 25 PDUFA; Raise PT to $31 Stock Data 02/06/2018 Price $10.79 Exchange NASDAQ Price Target $31.00 52-Week High $27.79 52-Week Low $9.88 Enterprise Value (M) $282.5 Market Cap (M) $457 Public Market Float (M) 23.8 Shares Outstanding (M) 42.4 3 Month Avg Volume 1,154,580 Short Interest (M) 10.70 Shares Outstanding (M): Figure shown is as of November 2, 2017. Balance Sheet Metrics Cash (M) $199.4 Total Debt (M) $24.9 Total Cash/Share $4.70 Book Value/Share $3.55 Cash (M): Amount shown is as of September 30, 2017. EPS Diluted Full Year – Dec 2016A 2017E 2018E 1Q (0.66) (0.93)A (0.79) 2Q (0.87) (0.78)A (0.82) 3Q (0.41) (0.85)A (0.76) 4Q (1.04) (0.83) (0.75) FY (3.00) (3.10) (3.11) Revenue ($M) Full Year – Dec 2016A 2017E 2018E 1Q 5.8 7.5A 0.6 2Q 9.1 1.3A 0.7 3Q 16.0 0.6A 1.2 4Q 10.7 0.8 1.8 FY 41.8 10.1 4.3 30 25 20 15 10 5 FEB- 17 J UN- 17 OCT- 17 FEB- 18 6 5 4 3 2 1 0 Vol. (mil) Price Manufacturing overhang lifted with VAI status at McPherson site.”,” HC Wainwright’s analyst commented.
Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Seattle Genetics from a hold rating to a sell rating in a research note on Saturday, January 13th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Seattle Genetics in a report on Tuesday, January 9th. Cantor Fitzgerald set a $50.00 price objective on shares of Seattle Genetics and gave the stock a hold rating in a report on Monday, January 8th. Oppenheimer reaffirmed a hold rating on shares of Seattle Genetics in a report on Tuesday, January 2nd. Finally, Cowen reaffirmed a hold rating and issued a $54.00 price objective on shares of Seattle Genetics in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and an average target price of $64.56.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 33.36%. The company had revenue of $129.61 million during the quarter, compared to analyst estimates of $123.99 million. During the same quarter last year, the business posted ($0.39) EPS. Seattle Genetics’s quarterly revenue was up 23.1% compared to the same quarter last year. analysts forecast that Seattle Genetics will post -1.56 earnings per share for the current year.
In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $51.71, for a total value of $973,802.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marc E. Lippman sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $58.07, for a total transaction of $174,210.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,993 shares of company stock valued at $5,603,714. Insiders own 34.70% of the company’s stock.
Large investors have recently made changes to their positions in the business. Capital Bank & Trust Co boosted its holdings in Seattle Genetics by 43.7% in the 3rd quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock valued at $45,406,000 after purchasing an additional 253,753 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Seattle Genetics by 6.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock valued at $2,080,000 after purchasing an additional 2,500 shares during the period. South Dakota Investment Council boosted its holdings in Seattle Genetics by 46.8% in the 3rd quarter. South Dakota Investment Council now owns 49,900 shares of the biotechnology company’s stock valued at $2,715,000 after purchasing an additional 15,900 shares during the period. Bristlecone Advisors LLC bought a new position in Seattle Genetics in the 3rd quarter valued at $180,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Seattle Genetics in the 3rd quarter valued at $291,000. 98.92% of the stock is owned by hedge funds and other institutional investors.
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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).
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