Seattle Genetics (SGEN) is Reiterated by Barclays to Overweight, Raises Price Target to $ 53

Seattle Genetics (SGEN) was Reiterated by Barclays to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 53 from a previous price target of $48 . Barclays advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on Seattle Genetics. Seattle Genetics was Downgraded by Cantor Fitzgerald to ” Hold” on Jul 27, 2016.

On the company’s financial health, Seattle Genetics reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.11. The company had revenue of $111.15 million for the quarter, compared to analysts expectations of $115.99 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.17 EPS.

Seattle Genetics closed down -0.61 points or -1.27% at $47.37 with 5,29,598 shares getting traded on Thursday. Post opening the session at $47.52, the shares hit an intraday low of $46.75 and an intraday high of $47.94 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jul 7, 2016, Clay B Siegall (President and CEO) sold 7,618 shares at $40.44 per share price. According to the SEC, on Jun 6, 2016, Darren S Cline (EVP, Commercial) sold 3,366 shares at $42.07 per share price. On Feb 17, 2016, John A Orwin (director) purchased 2,000 shares at $28.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Seattle Genetics Inc. is a biotechnology company 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) comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent monomethyl auristatin E (MMAE) utilizing its technology. In addition to ADCETRIS the Company’s pipeline includes six clinical-stage ADC programs consisting of 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. In addition it has multiple preclinical and research-stage programs that employ its technologies. Its technologies include ADC technology and Seattle Genetics’ sugar-engineered antibody (SEA) technology.

Seattle Genetics

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