Seattle Genetics (NASDAQ:SGEN) Research Coverage Started at Deutsche Bank

Deutsche Bank started coverage on shares of Seattle Genetics (NASDAQ:SGEN) in a report released on Thursday morning, Briefing.com Automated Import reports. The brokerage issued a hold rating and a $79.00 price objective on the biotechnology company’s stock.

SGEN has been the subject of a number of other reports. Stifel Nicolaus initiated coverage on shares of Seattle Genetics in a report on Wednesday, April 10th. They issued a hold rating and a $70.00 price target for the company. Zacks Investment Research raised shares of Hudson Technologies from a sell rating to a hold rating in a report on Wednesday, May 29th. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday. William Blair reissued an outperform rating on shares of Pivotal Software in a report on Wednesday, June 5th. Finally, Royal Bank of Canada raised shares of Snap from a sector perform rating to an outperform rating and upped their price target for the company from $10.00 to $17.00 in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $84.08.

SGEN stock opened at $75.07 on Thursday. Seattle Genetics has a fifty-two week low of $50.71 and a fifty-two week high of $84.37. The business has a 50-day moving average of $69.00.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.10). Seattle Genetics had a negative net margin of 36.94% and a negative return on equity of 17.16%. The business had revenue of $218.45 million during the quarter, compared to analyst estimates of $189.76 million. During the same period in the previous year, the company posted $0.47 earnings per share. Seattle Genetics’s revenue was up 28.4% compared to the same quarter last year. Analysts forecast that Seattle Genetics will post -1.31 EPS for the current fiscal year.

In other Seattle Genetics news, insider Vaughn B. Himes sold 8,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $65.94, for a total transaction of $527,520.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Clay B. Siegall sold 20,148 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $68.06, for a total value of $1,371,272.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,684 shares of company stock worth $5,709,532. Corporate insiders own 33.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of SGEN. Spectrum Management Group Inc. acquired a new stake in Seattle Genetics during the 1st quarter worth about $34,000. Flagship Harbor Advisors LLC raised its holdings in Seattle Genetics by 112.9% during the 1st quarter. Flagship Harbor Advisors LLC now owns 660 shares of the biotechnology company’s stock worth $48,000 after buying an additional 350 shares during the period. Quadrant Capital Group LLC raised its holdings in Seattle Genetics by 424.7% during the 1st quarter. Quadrant Capital Group LLC now owns 850 shares of the biotechnology company’s stock worth $60,000 after buying an additional 688 shares during the period. Advisor Group Inc. raised its holdings in Seattle Genetics by 20.8% during the 4th quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock worth $77,000 after buying an additional 232 shares during the period. Finally, Twin Tree Management LP acquired a new stake in Seattle Genetics during the 1st quarter worth about $87,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Seattle Genetics Company Profile

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

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Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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