Seattle Genetics (NASDAQ:SGEN) Earns Hold Rating from Analysts at Deutsche Bank

Deutsche Bank initiated coverage on shares of Seattle Genetics (NASDAQ:SGEN) in a research report sent to investors on Thursday, Briefing.com Automated Import reports. The firm issued a hold rating and a $79.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also recently weighed in on SGEN. HC Wainwright reiterated a buy rating on shares of Oragenics in a research note on Friday, April 26th. Berenberg Bank reduced their target price on shares of Lucara Diamond from C$1.60 to C$1.50 in a research note on Wednesday, March 27th. Royal Bank of Canada upgraded shares of Snap from a sector perform rating to an outperform rating and raised their price target for the stock from $10.00 to $17.00 in a research note on Friday, April 5th. BidaskClub cut shares of Weyco Group from a sell rating to a strong sell rating in a research note on Saturday, July 13th. Finally, ValuEngine cut shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $84.08.

NASDAQ SGEN opened at $75.07 on Thursday. The company has a 50-day moving average of $69.00. Seattle Genetics has a twelve month low of $50.71 and a twelve month high of $84.37. The company has a market capitalization of $12.14 billion, a PE ratio of -45.50 and a beta of 2.05.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $218.45 million during the quarter, compared to the consensus estimate of $189.76 million. During the same quarter in the previous year, the business posted $0.47 EPS. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. Research analysts predict that Seattle Genetics will post -1.31 EPS for the current year.

In other news, CEO Clay B. Siegall sold 4,824 shares of Seattle Genetics stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $67.43, for a total value of $325,282.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David W. Gryska sold 5,000 shares of Seattle Genetics stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $375,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,684 shares of company stock valued at $5,709,532. Corporate insiders own 33.80% of the company’s stock.

Several large investors have recently bought and sold shares of SGEN. Spectrum Management Group Inc. bought a new position in shares of Seattle Genetics in the first quarter valued at approximately $34,000. Flagship Harbor Advisors LLC raised its stake in shares of Seattle Genetics by 112.9% in the first quarter. Flagship Harbor Advisors LLC now owns 660 shares of the biotechnology company’s stock valued at $48,000 after acquiring an additional 350 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Seattle Genetics by 424.7% in the first quarter. Quadrant Capital Group LLC now owns 850 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 688 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Seattle Genetics by 20.8% in the fourth quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 232 shares during the last quarter. Finally, Twin Tree Management LP bought a new position in shares of Seattle Genetics in the first quarter valued at approximately $87,000. Institutional investors own 99.79% of the company’s stock.

About Seattle Genetics

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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