Seattle Genetics (SGEN) Receiving Somewhat Positive News Coverage, Study Shows

News coverage about Seattle Genetics (NASDAQ:SGEN) has been trending somewhat positive on Tuesday, Accern Sentiment reports. Accern ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Seattle Genetics earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave news coverage about the biotechnology company an impact score of 45.3886543012513 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

Here are some of the news articles that may have effected Accern Sentiment’s analysis:

Seattle Genetics (NASDAQ SGEN) traded down $1.83 during trading hours on Tuesday, reaching $56.05. 839,848 shares of the company traded hands, compared to its average volume of 963,968. Seattle Genetics has a twelve month low of $45.31 and a twelve month high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The business had revenue of $135.29 million for the quarter, compared to the consensus estimate of $112.76 million. During the same period last year, the company earned ($0.23) EPS. The firm’s revenue was up 27.3% compared to the same quarter last year. analysts predict that Seattle Genetics will post -0.93 earnings per share for the current year.

SGEN has been the topic of a number of recent research reports. Jefferies Group reaffirmed a “buy” rating and set a $53.00 price target on shares of Seattle Genetics in a research report on Thursday, October 26th. Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a research report on Tuesday, August 29th. Zacks Investment Research raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, October 10th. Morgan Stanley raised their price target on shares of Seattle Genetics from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 31st. Finally, Royal Bank Of Canada raised their price target on shares of Seattle Genetics from $68.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Seattle Genetics has an average rating of “Hold” and an average price target of $63.53.

In related news, insider Vaughn B. Himes sold 10,000 shares of Seattle Genetics stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $59.97, for a total transaction of $599,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Darren S. Cline sold 5,024 shares of Seattle Genetics stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $51.94, for a total transaction of $260,946.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 178,143 shares of company stock worth $10,312,524. 34.70% of the stock is owned by corporate insiders.

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About Seattle Genetics

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).

Insider Buying and Selling by Quarter for Seattle Genetics (NASDAQ:SGEN)

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