Trade Report: Today, Analysts gives Consensus Recommendation of “Hold” to Seattle Genetics Inc. (SGEN)

Today, Analysts gives Consensus Recommendation of “Hold” to Seattle Genetics Inc. (SGEN)

Shares of Seattle Genetics Inc. (NASDAQ:SGEN) have been given an average recommendation of “Hold” by the eighteen analysts that are presently covering the stock. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $50.83.

Several research firms recently commented on SGEN. TheStreet upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Friday, October 28th. JPMorgan Chase & Co. reissued a “hold” rating and set a $43.00 target price on shares of Seattle Genetics in a report on Monday, October 31st. HC Wainwright reissued a “buy” rating on shares of Seattle Genetics in a report on Sunday, October 30th. Leerink Swann reissued an “outperform” rating and set a $62.00 target price on shares of Seattle Genetics in a report on Monday, October 24th. Finally, RBC Capital Markets reissued an “outperform” rating and set a $62.00 target price (up previously from $55.00) on shares of Seattle Genetics in a report on Monday, October 10th.

In other Seattle Genetics news, insider Clay B. Siegall sold 31,269 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $50.08, for a total transaction of $1,565,951.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marc E. Lippman sold 1,000 shares of the company’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $57.75, for a total transaction of $57,750.00. The disclosure for this sale can be found here. Company insiders own 33.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. MSI Financial Services Inc raised its stake in Seattle Genetics by 114.0% in the third quarter. MSI Financial Services Inc now owns 1,866 shares of the company’s stock valued at $101,000 after buying an additional 994 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Seattle Genetics by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 3,595 shares of the company’s stock valued at $145,000 after buying an additional 981 shares during the last quarter. First National Bank of Omaha acquired a new stake in Seattle Genetics during the third quarter valued at about $201,000. World Asset Management Inc acquired a new stake in Seattle Genetics during the third quarter valued at about $206,000. Finally, M&T Bank Corp acquired a new stake in Seattle Genetics during the third quarter valued at about $214,000. Institutional investors and hedge funds own 96.57% of the company’s stock.

Shares of Seattle Genetics (NASDAQ:SGEN) traded up 0.67% during midday trading on Friday, hitting $70.95. The company’s stock had a trading volume of 428,827 shares. The firm’s market cap is $10.04 billion. The stock’s 50 day moving average is $58.62 and its 200-day moving average is $48.06. Seattle Genetics has a 52-week low of $26.02 and a 52-week high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, October 27th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.06. Seattle Genetics had a negative return on equity of 16.27% and a negative net margin of 27.03%. The business had revenue of $106.30 million for the quarter, compared to the consensus estimate of $4.34 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Seattle Genetics’s revenue for the quarter was up 26.4% on a year-over-year basis. Equities analysts predict that Seattle Genetics will post ($0.95) EPS for the current fiscal year.

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