Stock On Watch: How Analysts Feel About Seattle Genetics, Inc. After Today’s Significant Decline?

Stock On Watch: How Analysts Feel About Seattle Genetics, Inc. After Today's Significant Decline?

The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) is a huge mover today! About 553,052 shares traded hands. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 72.12% since March 9, 2016 and is uptrending. It has outperformed by 64.70% the S&P500.
The move comes after 8 months negative chart setup for the $7.32B company. It was reported on Oct, 12 by Barchart.com. We have $50.07 PT which if reached, will make NASDAQ:SGEN worth $439.20 million less.

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 company was maintained on Wednesday, July 27 by Barclays Capital. The rating was initiated by Credit Suisse with “Outperform” on Thursday, January 21. The rating was maintained by Leerink Swann on Friday, August 14 with “Outperform”. RBC Capital Markets maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Friday, July 31 with “Outperform” rating. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Sell” rating given on Wednesday, November 18 by Goldman Sachs. The firm earned “Neutral” rating on Friday, October 30 by Piper Jaffray. The stock has “Overweight” rating given by Barclays Capital on Thursday, February 4. The firm earned “Overweight” rating on Wednesday, September 7 by Morgan Stanley. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Neutral” rating given on Thursday, September 15 by Goldman Sachs. RBC Capital Markets maintained the stock with “Outperform” rating in Monday, October 10 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 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.
Macquarie Grp Ltd holds 0.01% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 130,000 shares. Allianz Asset Mngmt Ag holds 0% or 142,668 shares in its portfolio. Calvert Inv holds 0.01% or 6,193 shares in its portfolio. Moreover, Amer Group Inc Inc has 0% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 2,371 shares. The Ontario – Canada-based Omers Administration Corporation has invested 0.03% in Seattle Genetics, Inc. (NASDAQ:SGEN). Moreover, Redmile Llc has 5.33% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 1.38M shares. Nationwide Fund holds 3,000 shares or 0% of its portfolio. Berson And Corrado Investment Ltd Limited Liability Company, a New York-based fund reported 57,305 shares. Moreover, Canada Pension Plan Inv Board has 0.03% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 175,600 shares. Glenmede Tru Na has invested 0% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Art Ltd Co holds 0.15% or 74,229 shares in its portfolio. Alliancebernstein Lp has 65,210 shares for 0% of their US portfolio. Sunbelt Securities last reported 79 shares in the company. Hightower Llc last reported 5,135 shares in the company. Pointstate L P owns 300,000 shares or 0.25% of their US portfolio.

Insider Transactions: Since April 25, 2016, the stock had 2 insider buys, and 22 selling transactions for $30.90 million net activity. DRACHMAN JONATHAN G sold $185,943 worth of stock or 3,991 shares. 414,016 shares with value of $20.05M were bought by BAKER FELIX on Tuesday, September 6. $550,212 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were sold by SIEGALL CLAY B. $252,102 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) was sold by DOBMEIER ERIC on Monday, August 22. The insider HIMES VAUGHN B sold $185,943. SIMPSON TODD E also sold $185,943 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) on Monday, August 22. $141,617 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) was sold by Cline Darren S.

More important 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 247Wallst.com published article titled: “Massive Buffett Trade Again Highlights Insider Buying: Phillips 66, Seattle …”, Businesswire.com published: “Seattle Genetics Announces Executive Promotions and Leadership Appointment” on October 04, 2016. More interesting news about Seattle Genetics, Inc. (NASDAQ:SGEN) was released by: Benzinga.com and their article: “Seattle Genetics No Longer On Goldman Sachs’ Sell List” with publication date: September 15, 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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