The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) reached all time high today, Nov, 4 and still has $90.15 target or 59.00% above today’s $56.70 share price. This indicates more upside for the $8.03 billion company. This technical setup was reported by Barchart.com. If the $90.15 PT is reached, the company will be worth $4.74B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 540,343 shares traded hands. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 57.37% since April 4, 2016 and is uptrending. It has outperformed by 56.28% the S&P500.
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. On Thursday, January 21 the stock rating was initiated by Credit Suisse with “Outperform”. The rating was downgraded by Cantor Fitzgerald on Wednesday, July 27 to “Hold”. Barclays Capital initiated the stock with “Overweight” rating in Thursday, February 4 report. RBC Capital Markets maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Monday, October 10 with “Outperform” rating. RBC Capital Markets maintained it with “Outperform” rating and $56 target price in Friday, July 31 report. Piper Jaffray upgraded Seattle Genetics, Inc. (NASDAQ:SGEN) on Friday, October 30 to “Neutral” rating. As per Wednesday, September 7, the company rating was initiated by Morgan Stanley. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Outperform” rating given on Friday, August 14 by Leerink Swann. The company was upgraded on Thursday, September 15 by Goldman Sachs. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Overweight” rating given on Wednesday, July 27 by Barclays Capital.
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, ADCETRISÂ® (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 2016 Q2. Its up 0.17, from 0.74 in 2016Q1. The ratio increased, 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.
Tradewinds Capital Mgmt Lc has invested 0.06% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Panagora Asset Mgmt last reported 4,230 shares in the company. Primecap Ca reported 13.51M shares or 0.58% of all its holdings. Carl Domino accumulated 5,400 shares or 0.2% of the stock. Cornerstone last reported 0.01% of its portfolio in the stock. Omers Administration Corp holds 0.03% or 35,800 shares in its portfolio. Baillie Gifford & holds 1.23% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 17.12 million shares. Mirae Asset Invs Communication Ltd owns 5,707 shares or 0.01% of their US portfolio. Mark Sheptoff Planning Ltd Liability Corp last reported 200 shares in the company. Amalgamated Bancorp last reported 0.04% of its portfolio in the stock. Pointstate Ltd Partnership reported 300,000 shares or 0.25% of all its holdings. Guardian Communications last reported 0% of its portfolio in the stock. Columbia Wanger Asset Mngmt Ltd Liability Corp holds 0.67% or 1.43 million shares in its portfolio. Raymond James And Assoc has invested 0% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Soros Fund Management Ltd Company has 14,700 shares for 0.01% of their US portfolio.
Insider Transactions: Since May 17, 2016, the stock had 3 buys, and 22 insider sales for $88.60 million net activity. SIEGALL CLAY B sold $550,212 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) on Monday, August 8. SIMPSON TODD E had sold 3,991 shares worth $185,943. On Thursday, June 2 Cline Darren S sold $141,617 worth of the stock or 3,366 shares. BAKER FELIX bought $22.68M worth of Seattle Genetics, Inc. (NASDAQ:SGEN) on Friday, September 9. $252,102 worth of shares were sold by DOBMEIER ERIC on Monday, August 22. Shares for $127,631 were sold by DRACHMAN JONATHAN G on Thursday, September 22. $185,943 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were sold by HIMES VAUGHN B.
More notable recent Seattle Genetics, Inc. (NASDAQ:SGEN) news were published by: Fool.com which released: “5 Years After Adcetris Approval, Seattle Genetics, Inc. Still Focused on Pipeline” on October 31, 2016, also Streetinsider.com with their article: “Form 4 SEATTLE GENETICS INC For: Nov 01 Filed by: DRACHMAN JONATHAN G” published on November 04, 2016, Businesswire.com published: “Seattle Genetics and Agensys, an Affiliate of Astellas, Highlight Promising …” on October 07, 2016. More interesting news about Seattle Genetics, Inc. (NASDAQ:SGEN) were released by: Finance.Yahoo.com and their article: “Seattle Genetics (SGEN) Loss Narrower than Expected in Q3” published on October 28, 2016 as well as Businesswire.com‘s news article titled: “Seattle Genetics to Present at Credit Suisse 25th Annual Healthcare Conference” with publication date: November 01, 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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