Seattle Genetics (SGEN) Receiving Somewhat Favorable Press Coverage, Analysis Finds
Headlines about Seattle Genetics (NASDAQ:SGEN) have been trending somewhat positive this week, Accern reports. Accern ranks the sentiment of news coverage by analyzing more than twenty million blog and news sources in real-time. 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 0.24 on Accern’s scale. Accern also assigned news coverage about the biotechnology company an impact score of 45.5579488936533 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news articles that may have impacted Accern’s rankings:
- Seattle Genetics, Inc. (SGEN) Price Target Increased to $60.00 by Analysts at J P Morgan Chase & Co (americanbankingnews.com)
- Seattle Genetics, Inc. (SGEN) Given a $52.00 Price Target by SunTrust Banks, Inc. Analysts (americanbankingnews.com)
- HC Wainwright Reiterates “Buy” Rating for Seattle Genetics, Inc. (SGEN) (americanbankingnews.com)
- Seattle Genetics (SGEN) vs. The Competition Financial Comparison (americanbankingnews.com)
- BofA/Merrill Lynch Upgrades Seattle Genetics (SGEN) to Neutral – StreetInsider.com (streetinsider.com)
Several analysts recently issued reports on SGEN shares. J P Morgan Chase & Co upped their price objective on shares of Seattle Genetics from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday. Cowen and Company reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Sunday. SunTrust Banks, Inc. set a $52.00 price objective on shares of Seattle Genetics and gave the stock a “hold” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Seattle Genetics in a report on Friday. Finally, Bank of America Corporation raised shares of Seattle Genetics from an “underperform” rating to a “neutral” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.35.
Seattle Genetics (SGEN) opened at 62.69 on Tuesday. The company’s market capitalization is $8.97 billion. The firm’s 50-day moving average is $57.80 and its 200-day moving average is $57.55. Seattle Genetics has a 52-week low of $45.31 and a 52-week high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative return on equity of 33.16% and a negative net margin of 26.53%. The company had revenue of $135.29 million during the quarter, compared to analyst estimates of $112.76 million. During the same quarter last year, the firm posted ($0.23) EPS. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, equities research analysts forecast that Seattle Genetics will post ($1.69) EPS for the current year.
In other Seattle Genetics news, EVP Darren S. Cline sold 1,788 shares of Seattle Genetics stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $85,627.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Jonathan G. Drachman sold 10,000 shares of Seattle Genetics stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $47.54, for a total value of $475,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 173,761 shares of company stock valued at $8,949,050. 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).
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