Seattle Genetics (SGEN) is Reiterated by SunTrust to Neutral, Raises Price Target to $ 38

Seattle Genetics (SGEN) was Reiterated by SunTrust to “Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 38 from a previous price target of $34 . SunTrust advised their investors in a research report released on Jul 27, 2016.

Many Wall Street Analysts have commented on Seattle Genetics. Company shares were Reiterated by Barclays on Jul 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 53 from a previous price target of $48 .Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .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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