Seattle Genetics (NASDAQ:SGEN)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued to investors on Wednesday.
The analysts wrote, “to Approval on June 25 PDUFA; Raise PT to $31 Stock Data 02/06/2018 Price $10.79 Exchange NASDAQ Price Target $31.00 52-Week High $27.79 52-Week Low $9.88 Enterprise Value (M) $282.5 Market Cap (M) $457 Public Market Float (M) 23.8 Shares Outstanding (M) 42.4 3 Month Avg Volume 1,154,580 Short Interest (M) 10.70 Shares Outstanding (M): Figure shown is as of November 2, 2017. Balance Sheet Metrics Cash (M) $199.4 Total Debt (M) $24.9 Total Cash/Share $4.70 Book Value/Share $3.55 Cash (M): Amount shown is as of September 30, 2017. EPS Diluted Full Year – Dec 2016A 2017E 2018E 1Q (0.66) (0.93)A (0.79) 2Q (0.87) (0.78)A (0.82) 3Q (0.41) (0.85)A (0.76) 4Q (1.04) (0.83) (0.75) FY (3.00) (3.10) (3.11) Revenue ($M) Full Year – Dec 2016A 2017E 2018E 1Q 5.8 7.5A 0.6 2Q 9.1 1.3A 0.7 3Q 16.0 0.6A 1.2 4Q 10.7 0.8 1.8 FY 41.8 10.1 4.3 30 25 20 15 10 5 FEB- 17 J UN- 17 OCT- 17 FEB- 18 6 5 4 3 2 1 0 Vol. (mil) Price Manufacturing overhang lifted with VAI status at McPherson site.””
SGEN has been the subject of several other research reports. BidaskClub upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 9th. Oppenheimer initiated coverage on Seattle Genetics in a report on Tuesday, October 10th. They set a “hold” rating for the company. Cantor Fitzgerald set a $46.00 price target on Seattle Genetics and gave the company a “hold” rating in a report on Tuesday, October 10th. Cann initiated coverage on Seattle Genetics in a report on Wednesday, November 8th. They set a “hold” rating for the company. Finally, Bank of America upgraded Seattle Genetics from an “underperform” rating to a “neutral” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Seattle Genetics currently has a consensus rating of “Hold” and a consensus price target of $64.56.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.02. Seattle Genetics had a negative return on equity of 33.36% and a negative net margin of 26.03%. The firm had revenue of $129.61 million during the quarter, compared to analysts’ expectations of $123.99 million. During the same quarter last year, the business posted ($0.39) earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. analysts expect that Seattle Genetics will post -1.25 earnings per share for the current fiscal year.
In other news, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $55.40, for a total value of $1,043,292.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker acquired 3,846,153 shares of the stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $52.00 per share, with a total value of $199,999,956.00. The disclosure for this purchase can be found here. Insiders sold a total of 98,993 shares of company stock valued at $5,603,714 over the last ninety days. Corporate insiders own 34.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. Quantbot Technologies LP lifted its stake in shares of Seattle Genetics by 116.5% in the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock valued at $144,000 after purchasing an additional 1,428 shares during the last quarter. Bristlecone Advisors LLC bought a new stake in shares of Seattle Genetics in the 3rd quarter valued at approximately $180,000. Virtu Financial LLC bought a new stake in shares of Seattle Genetics in the 3rd quarter valued at approximately $203,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Seattle Genetics in the 3rd quarter valued at approximately $208,000. Finally, Trexquant Investment LP bought a new stake in shares of Seattle Genetics during the 3rd quarter worth approximately $226,000. 98.92% of the stock is owned by institutional investors and hedge funds.
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Seattle Genetics Company Profile
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).
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