Seattle Genetics (NASDAQ:SGEN) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Several other analysts also recently issued reports on the company. Bank of America dropped their price target on Seattle Genetics from $70.00 to $68.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Needham & Company LLC reissued a “buy” rating and issued a $74.00 price target (up previously from $72.00) on shares of Seattle Genetics in a research note on Wednesday, February 7th. SunTrust Banks reissued a “hold” rating and issued a $60.00 price target on shares of Seattle Genetics in a research note on Wednesday, February 7th. HC Wainwright reissued a “buy” rating on shares of Seattle Genetics in a research note on Wednesday, February 7th. Finally, BidaskClub downgraded Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $64.25.

Shares of Seattle Genetics (NASDAQ SGEN) opened at $52.15 on Wednesday. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $71.32. The stock has a market capitalization of $8,125.94, a PE ratio of -59.26 and a beta of 2.08.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $123.99 million. During the same quarter last year, the business posted ($0.39) EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. equities research analysts anticipate that Seattle Genetics will post -1.59 earnings per share for the current year.

In related news, insider Vaughn B. Himes sold 10,000 shares of Seattle Genetics stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $49.75, for a total value of $936,892.00. The disclosure for this sale can be found here. Insiders have sold 105,225 shares of company stock valued at $5,811,516 in the last quarter. 34.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of SGEN. Manning & Napier Advisors LLC bought a new position in Seattle Genetics during the third quarter worth about $140,098,000. Capital International Investors grew its holdings in Seattle Genetics by 63.7% during the third quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock worth $242,682,000 after purchasing an additional 1,735,657 shares during the period. Pictet Asset Management Ltd. grew its holdings in Seattle Genetics by 79.3% during the third quarter. Pictet Asset Management Ltd. now owns 1,266,426 shares of the biotechnology company’s stock worth $68,906,000 after purchasing an additional 560,110 shares during the period. Capital Guardian Trust Co. grew its holdings in Seattle Genetics by 82.2% during the third quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock worth $57,909,000 after purchasing an additional 480,044 shares during the period. Finally, Capital Bank & Trust Co grew its holdings in Seattle Genetics by 43.7% during the third quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock worth $45,406,000 after purchasing an additional 253,753 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

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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).

The Fly

Analyst Recommendations for Seattle Genetics (NASDAQ:SGEN)

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