Seattle Genetics (SGEN) PT Set at $50.00 by Cantor Fitzgerald
Seattle Genetics (NASDAQ:SGEN) received a $50.00 price target from equities research analysts at Cantor Fitzgerald in a note issued to investors on Tuesday. The firm presently has a “hold” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 9.52% from the company’s current price.
Several other research firms have also weighed in on SGEN. Jefferies Group restated a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a report on Thursday, October 26th. Cann restated a “hold” rating on shares of Seattle Genetics in a report on Tuesday, August 29th. Zacks Investment Research upgraded Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, October 10th. Morgan Stanley raised their target price on Seattle Genetics from $64.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, October 31st. Finally, Royal Bank of Canada raised their target price on Seattle Genetics from $68.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Seattle Genetics presently has an average rating of “Hold” and an average price target of $63.76.
Seattle Genetics (NASDAQ:SGEN) opened at $55.26 on Tuesday. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The company had revenue of $135.29 million for the quarter, compared to analyst estimates of $112.76 million. During the same period last year, the company earned ($0.23) earnings per share. The business’s revenue was up 27.3% compared to the same quarter last year. equities analysts expect that Seattle Genetics will post -0.93 EPS for the current year.
In related news, COO Eric Dobmeier sold 3,729 shares of Seattle Genetics stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $58.75, for a total transaction of $219,078.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $61.18, for a total value of $1,152,141.76. The disclosure for this sale can be found here. Insiders sold 138,378 shares of company stock worth $8,229,957 over the last quarter. 34.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Seattle Genetics by 2.3% during the second quarter. Vanguard Group Inc. now owns 7,530,515 shares of the biotechnology company’s stock worth $389,628,000 after buying an additional 167,828 shares in the last quarter. BlackRock Inc. grew its position in Seattle Genetics by 2.6% during the second quarter. BlackRock Inc. now owns 7,453,483 shares of the biotechnology company’s stock worth $385,644,000 after buying an additional 185,823 shares in the last quarter. Capital International Investors grew its position in Seattle Genetics by 63.7% during 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 in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Seattle Genetics during the third quarter worth about $140,098,000. Finally, Matrix Capital Management Company LP grew its position in Seattle Genetics by 18.8% during the second quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock worth $109,585,000 after buying an additional 335,000 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.
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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