The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) is a huge mover today! About 360,732 shares traded hands. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 61.91% since March 7, 2016 and is uptrending. It has outperformed by 54.32% the S&P500.
The move comes after 8 months positive chart setup for the $8.16 billion company. It was reported on Oct, 10 by Barchart.com. We have $70.93 PT which if reached, will make NASDAQ:SGEN worth $1.96B more.
Analysts await Seattle Genetics, Inc. (NASDAQ:SGEN) to report earnings on November, 3. They expect $-0.29 EPS, down 38.10% or $0.08 from last year’s $-0.21 per share. After $-0.23 actual EPS reported by Seattle Genetics, Inc. for the previous quarter, Wall Street now forecasts 26.09% negative EPS growth.
Seattle Genetics, Inc. (NASDAQ:SGEN) Ratings Coverage
Out of 8 analysts covering Seattle Genetics (NASDAQ:SGEN), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Seattle Genetics has been the topic of 14 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Hold” rating given on Wednesday, July 27 by Cantor Fitzgerald. On Friday, July 31 the stock rating was maintained by RBC Capital Markets with “Outperform”. The company was initiated on Wednesday, November 18 by Goldman Sachs. RBC Capital Markets maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Monday, October 10 with “Outperform” rating. On Thursday, January 21 the stock rating was initiated by Credit Suisse with “Outperform”. The firm has “Outperform” rating by RBC Capital Markets given on Monday, September 14. The rating was upgraded by Goldman Sachs to “Neutral” on Thursday, September 15. The rating was maintained by Barclays Capital on Wednesday, July 27 with “Overweight”. On Thursday, February 4 the stock rating was initiated by Barclays Capital with “Overweight”. The stock has “Neutral” rating given by Piper Jaffray on Friday, October 30.
According to Zacks Investment Research, “Seattle Genetics is a biotechnology company focused on the development and commercialization of innovative antibody-based therapies for the treatment of cancer. Seattle Genetics is leading the field in developing antibody-drug conjugates (ADCs), a technology designed to harness the targeting ability of antibodies to deliver cell-killing agents directly to cancer cells. The company’s lead product, ADCETRISÂ® (brentuximab vedotin) is an ADC that, in collaboration with Takeda Pharmaceutical Company Limited, is commercially available for two indications in more than 45 countries, including the U.S., Canada, Japan and members of the European Union. Additionally, ADCETRIS is being evaluated broadly in more than 30 ongoing clinical trials. Seattle Genetics is also advancing a robust pipeline of clinical-stage ADC programs, including SGN-CD19A, SGN-CD33A, SGN-LIV1A, SGN-CD70A, ASG-22ME and ASG-15ME.”
Insitutional Activity: The institutional sentiment increased to 0.91 in 2016 Q2. Its up 0.17, from 0.74 in 2016Q1. The ratio is positive, as 12 funds sold all Seattle Genetics, Inc. shares owned while 75 reduced positions. 34 funds bought stakes while 45 increased positions. They now own 136.24 million shares or 2.59% less from 139.87 million shares in 2016Q1.
Moreover, New York State Common Retirement Fund has 0.02% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 402,540 shares. Wasatch Advsr Incorporated accumulated 2.86M shares or 1.77% of the stock. Eventide Asset Mngmt Llc accumulated 2.07% or 835,506 shares. Northern Trust Corp holds 415,410 shares or 0.01% of its portfolio. Platinum Investment Mgmt accumulated 0.04% or 41,800 shares. Capstone Asset Mngmt Commerce holds 0.01% or 5,495 shares in its portfolio. Hightower Limited Liability accumulated 5,135 shares or 0% of the stock. Springbok Capital Management Lc last reported 703 shares in the company. The New York-based Global X Mngmt Co Ltd Liability Corp has invested 0% in Seattle Genetics, Inc. (NASDAQ:SGEN). Redmile Group Lc has invested 5.33% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Blair William Co Il last reported 0.26% of its portfolio in the stock. Alpha Windward Ltd last reported 970 shares in the company. The United Kingdom-based Gsa Cap Prtn Limited Liability Partnership has invested 0.01% in Seattle Genetics, Inc. (NASDAQ:SGEN). Opus Point Prns Ltd Liability Corporation accumulated 2.89% or 74,093 shares. Amer Century Cos, a Missouri-based fund reported 10,691 shares.
Insider Transactions: Since April 25, 2016, the stock had 2 insider buys, and 21 sales for $31.69 million net activity. SIEGALL CLAY B had sold 31,269 shares worth $1.57M. 5,397 shares were sold by Cline Darren S, worth $248,307. Shares for $185,943 were sold by HIMES VAUGHN B on Monday, August 22. DOBMEIER ERIC sold 22,918 shares worth $1.24 million. BAKER FELIX had bought 414,016 shares worth $20.05 million. 3,991 shares were sold by DRACHMAN JONATHAN G, worth $185,943 on Monday, August 22. $185,943 worth of shares were sold by SIMPSON TODD E on Monday, August 22.
More notable recent Seattle Genetics, Inc. (NASDAQ:SGEN) news were published by: Businesswire.com which released: “Seattle Genetics and Agensys, an Affiliate of Astellas, Highlight Promising …” on October 07, 2016, also Fool.com with their article: “Taking Inventory on Seattle Genetics, Inc. Earnings” published on May 04, 2016, Fool.com published: “Seattle Genetics, Inc. Making the Most of It (and Then Some)” on July 29, 2016. More interesting news about Seattle Genetics, Inc. (NASDAQ:SGEN) were released by: Businesswire.com and their article: “Seattle Genetics Announces Executive Promotions and Leadership Appointment” published on October 04, 2016 as well as 247Wallst.com‘s news article titled: “Massive Buffett Trade Again Highlights Insider Buying: Phillips 66, Seattle …” with publication date: September 18, 2016.
SGEN Company Profile
Seattle Genetics, Inc., incorporated on July 15, 1997, is a biotechnology firm focused on the development and commercialization of therapies for the treatment of cancer. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC). In addition to ADCETRIS, the Company’s pipeline includes other clinical-stage ADC programs, which are SGN-CD33A, SGN-CD19A, SGN-LIV1A, SGN-CD70A, ASG-22ME, and ASG-15ME, and SEA-CD40, which is based on its sugar-engineered antibody (SEA) technology. It also has multiple preclinical and research-stage programs that employ its technologies.
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