BidaskClub upgraded shares of Seattle Genetics (NASDAQ:SGEN) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

SGEN has been the subject of a number of other reports. Barclays dropped their price objective on Seattle Genetics from $95.00 to $90.00 and set an overweight rating for the company in a research note on Friday, October 26th. Leerink Swann started coverage on Seattle Genetics in a research note on Monday, September 24th. They set an outperform rating and a $101.00 target price for the company. HC Wainwright reissued a buy rating and set a $98.00 target price on shares of Seattle Genetics in a research note on Friday, October 26th. TheStreet cut Seattle Genetics from a c rating to a d+ rating in a research note on Thursday, October 25th. Finally, reissued a hold rating on shares of Seattle Genetics in a research note on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $79.75.

Shares of NASDAQ SGEN opened at $71.41 on Thursday. Seattle Genetics has a twelve month low of $47.75 and a twelve month high of $84.37. The firm has a market capitalization of $11.11 billion, a PE ratio of -81.15 and a beta of 2.04.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Thursday, October 25th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.15). Seattle Genetics had a negative net margin of 26.58% and a negative return on equity of 19.13%. The firm had revenue of $169.42 million during the quarter, compared to analyst estimates of $164.75 million. Sell-side analysts predict that Seattle Genetics will post -1.44 EPS for the current fiscal year.

In related news, insider Clay B. Siegall sold 20,148 shares of the business’s stock in a transaction on Tuesday, January 8th. The stock was sold at an average price of $65.73, for a total transaction of $1,324,328.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darren S. Cline sold 4,167 shares of Seattle Genetics stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $56.68, for a total value of $236,185.56. The disclosure for this sale can be found here. Insiders have sold a total of 81,611 shares of company stock valued at $5,080,123 over the last three months. 33.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital International Investors lifted its holdings in Seattle Genetics by 53.6% during the 3rd quarter. Capital International Investors now owns 9,414,375 shares of the biotechnology company’s stock worth $726,037,000 after buying an additional 3,285,237 shares during the last quarter. BlackRock Inc. lifted its holdings in Seattle Genetics by 1.3% during the 3rd quarter. BlackRock Inc. now owns 9,042,238 shares of the biotechnology company’s stock worth $697,336,000 after buying an additional 113,573 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Seattle Genetics by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,914,184 shares of the biotechnology company’s stock worth $687,461,000 after buying an additional 148,979 shares during the last quarter. Vanguard Group Inc lifted its holdings in Seattle Genetics by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 8,914,184 shares of the biotechnology company’s stock worth $687,461,000 after buying an additional 148,979 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Seattle Genetics by 70.7% during the 3rd quarter. First Trust Advisors LP now owns 1,779,195 shares of the biotechnology company’s stock worth $137,212,000 after buying an additional 736,621 shares during the last quarter.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

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Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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