Exclusive: Is Seattle Genetics, Inc. a Buy? The Stock Reaches All Time High Today

Exclusive: Is Seattle Genetics, Inc. a Buy? The Stock Reaches All Time High Today

The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) reached all time high today, Oct, 11 and still has $92.52 target or 63.00% above today’s $56.76 share price. This indicates more upside for the $8.28 billion company. This technical setup was reported by Barchart.com. If the $92.52 PT is reached, the company will be worth $5.22 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 95,076 shares traded hands. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 78.13% since March 8, 2016 and is uptrending. It has outperformed by 68.81% the S&P500.

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. $62 is the highest target while $51 is the lowest. The $57 average target is 0.42% above today’s ($56.76) stock price. Seattle Genetics has been the topic of 14 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Wednesday, July 27 by Cantor Fitzgerald. William Blair maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Tuesday, August 25 with “Buy” rating. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) earned “Outperform” rating by Credit Suisse on Thursday, January 21. On Friday, August 14 the stock rating was maintained by Leerink Swann with “Outperform”. RBC Capital Markets maintained Seattle Genetics, Inc. (NASDAQ:SGEN) rating on Monday, October 10. RBC Capital Markets has “Outperform” rating and $62 price target. The firm earned “Overweight” rating on Wednesday, September 7 by Morgan Stanley. The company was maintained on Monday, September 14 by RBC Capital Markets. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Overweight” rating given on Thursday, February 4 by Barclays Capital. The company was upgraded on Friday, October 30 by Piper Jaffray. Barclays Capital maintained the stock with “Overweight” rating in Wednesday, July 27 report.

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, ADCETRIS® (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 Q2 2016. Its up 0.17, from 0.74 in 2016Q1. The ratio improved, 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.
Price T Rowe Associates Md holds 3.69 million shares or 0.03% of its portfolio. Sei, a Pennsylvania-based fund reported 497 shares. Baxter Bros Incorporated last reported 0.17% of its portfolio in the stock. Fincl Architects Incorporated has invested 0.02% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Northern Trust Corp accumulated 415,410 shares or 0.01% of the stock. Deutsche Savings Bank Ag accumulated 0.03% or 970,683 shares. Raymond James & Associate has invested 0% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). State Board Of Administration Of Florida Retirement last reported 0.02% of its portfolio in the stock. Moreover, Fairfield Bush has 0.31% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 21,822 shares. South Dakota Invest Council holds 0.06% or 65,800 shares in its portfolio. Creative Planning last reported 0.01% of its portfolio in the stock. Levin Capital Strategies Ltd Partnership has 5,400 shares for 0% of their US portfolio. Canada Pension Plan Board reported 175,600 shares or 0.03% of all its holdings. California State Teachers Retirement System reported 203,507 shares or 0.02% of all its holdings. Columbia Wanger Asset Management Limited Liability Corporation, a Illinois-based fund reported 1.43M shares.

Insider Transactions: Since April 25, 2016, the stock had 2 insider buys, and 21 sales for $31.69 million net activity. $127,631 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were sold by DRACHMAN JONATHAN G. $1.57M worth of Seattle Genetics, Inc. (NASDAQ:SGEN) was sold by SIEGALL CLAY B on Thursday, September 8. $22.68M worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were bought by BAKER FELIX. $185,943 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were sold by SIMPSON TODD E. On Wednesday, September 14 DOBMEIER ERIC sold $1.24 million worth of the stock or 22,918 shares. Cline Darren S sold $141,617 worth of stock or 3,366 shares. $185,943 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) was sold by HIMES VAUGHN B on Monday, August 22.

More 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 Businesswire.com published the news titled: “Seattle Genetics Announces Executive Promotions and Leadership Appointment” on October 04, 2016. 247Wallst.com‘s news article titled: “Massive Buffett Trade Again Highlights Insider Buying: Phillips 66, Seattle …” with publication date: September 18, 2016 was also an interesting one.

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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