Seattle Genetics (SGEN) is Initiated by Morgan Stanley to Overweight

Seattle Genetics (SGEN) was Initiated by Morgan Stanley to “Overweight”. Morgan Stanley advised their investors in a research report released on Sep 7, 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 .Company shares were Reiterated by SunTrust on Jul 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 38 from a previous price target of $34 .

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 opened for trading at $44.72 and hit $44.97 on the upside on Thursday, eventually ending the session at $44.9, with a gain of 0.79% or 0.35 points. The heightened volatility saw the trading volume jump to 4,40,129 shares. Company has a market cap of $6,309 M.

In a different news, on Aug 24, 2016, Eric Dobmeier (Chief Operating Officer) sold 12,589 shares at $48.00 per share price. According to the SEC, on Aug 22, 2016, Darren S Cline (EVP, Commercial) sold 1,774 shares at $46.59 per share price. On Aug 22, 2016, Jonathan G Drachman (CMO & EVP, R & D) sold 3,991 shares at $46.59 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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