Sell-Side Analyst's Predictions: Seattle Genetics, Inc. (SGEN), Murphy Oil Corporation (MUR)

(NASDAQ:SGEN) to Underperform in a report released on 02/10/2017. BofA/Merrill issued rating on the stock of Seattle Genetics, Inc.

More About Seattle Genetics, Inc. (NASDAQ:SGEN) might hit $60.14, however, the High Price Target and Low price Target are $80 and $43, respectively. The stock gained a consensus recommendation of 2.29 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell. The stock presently has a consensus rating of "Hold" and an average price target of $58.60. It has a past 5-day performance of -1.55 percent and trades at an average volume of 1.24M shares. The company has a 50-day moving average of $58.10 and a 200-day moving average of $56.04. The High end of the Estimate is $111.15 Million, while the Low end of the Estimate is $89 Million. On average, equities research analysts expect that Seattle Genetics, Inc. will post ($1.73) earnings per share for the current year.

Seattle Genetics, Inc. (NASDAQ:SGEN) last announced results for quarter ended on 30 Sep 2016, disclosing EPS of $-0.23 The reported earnings per share topped the analyst's consensus by $0.06 with the percentage difference between estimated and actual earnings arriving at 20.70%. The firm had revenue of $105.30 million for the quarter, compared to analyst estimates of $106.49 million. Seattle Genetics's revenue for the quarter was up 12.6% compared to the same quarter previous year. The reported EPS for the same quarter past year was $-0.05.

"Immunomedics' announcement of a deal with Seattle Genetics is a blatant and shameful maneuver by the current Board and management to manipulate the outcome of the upcoming Annual Meeting and entrench themselves at the expense of stockholders' best interests, and venBio is exploring all options to hold them accountable".

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On Friday, January 6th, Clay B. Siegall sold 14,465 shares of Seattle Genetics stock.

In the transaction dated December 08, 2016, the great number of shares disposed came courtesy the COO; DOBMEIER ERIC disposed a total of 12,500 shares at an average price of $65.92, amounting to approximately $824,000. Similar statistics are true for the second largest owner, Baillie Gifford & Co, which owns 16,795,793 shares of the stock are valued at $1.01 billion. The disclosure for this sale can be found here. The stock soared 22.18 percent over the last 6 months. Institutional investors own 98.21% of the company's stock.

Hedge funds have recently bought and sold shares of the company. Beta for Seattle Genetics, Inc. stands at 2.33 while its ATR (average true range) is 2.42. First National Bank of Omaha bought a new position in shares of Seattle Genetics during the third quarter valued at about $201,000. State Street Corp increased its position in Seattle Genetics by 29.4% in the fourth quarter. (CARA), a biotechnology company focused on developing and commercializing new chemical entities created to alleviate pain and pruritus by selectively targeting peripheral kappa opioid receptors, announced that it has completed patient enrollment for the multi-dose phase of its adaptive Phase 2/3 trial of I.V. CR845 in dialysis patients suffering from moderate-to-severe uremic pruritus (UP). 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.

  • Zachary Reyes