Today’s Market Runner: Seattle Genetics, Inc. Just Reaches 52-Week High?

Today's Market Runner: Seattle Genetics, Inc. Just Reaches 52 Week High?

The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) hit a new 52-week high and has $74.22 target or 31.00% above today’s $56.66 share price. The 5 months bullish chart indicates low risk for the $8.02B company. The 1-year high was reported on Nov, 4 by Barchart.com. If the $74.22 price target is reached, the company will be worth $2.49B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 439,142 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. $62 is the highest target while $51 is the lowest. The $57 average target is 0.60% above today’s ($56.66) stock price. Seattle Genetics has been the topic of 14 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Outperform” rating given on Monday, September 14 by RBC Capital Markets. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Sell” rating given on Wednesday, November 18 by Goldman Sachs. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Buy” rating given on Tuesday, August 25 by William Blair. The company was initiated on Thursday, January 21 by Credit Suisse. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Overweight” rating given on Wednesday, July 27 by Barclays Capital. RBC Capital Markets maintained Seattle Genetics, Inc. (NASDAQ:SGEN) rating on Monday, October 10. RBC Capital Markets has “Outperform” rating and $62 price target. The firm has “Overweight” rating given on Wednesday, September 7 by Morgan Stanley. Goldman Sachs upgraded the stock to “Neutral” rating in Thursday, September 15 report. Leerink Swann maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Friday, August 14 with “Outperform” rating. The stock has “Outperform” rating given by RBC Capital Markets on Friday, July 31.

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, 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. 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 Q2 2016. Its up 0.17, from 0.74 in 2016Q1. The ratio is positive, 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.
Amalgamated Fincl Bank holds 0.04% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 15,363 shares. Bluecrest Cap Management Limited has 0.01% invested in the company for 7,679 shares. Utah Retirement holds 17,500 shares or 0.02% of its portfolio. Pinnacle Assoc Ltd holds 1.03% or 1.19 million shares in its portfolio. Spark Invest Ltd Limited Liability Company owns 102,900 shares or 0.39% of their US portfolio. Eventide Asset Ltd Com accumulated 835,506 shares or 2.07% of the stock. Analytic has invested 0% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Legal & General Gru Public Ltd Com holds 0% or 10,052 shares in its portfolio. Moreover, Lagoda Investment Mgmt L P has 8.52% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 565,243 shares. Eqis Capital Inc last reported 38,087 shares in the company. Fmr Limited Liability Company last reported 14.59 million shares in the company. First Quadrant Lp Ca holds 0% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 1,000 shares. Aperio Gru Inc Llc, a California-based fund reported 23,302 shares. Goldman Sachs Grp Incorporated Inc has 0% invested in the company for 340,325 shares. Primecap Ca owns 13.51M shares or 0.58% of their US portfolio.

Insider Transactions: Since May 17, 2016, the stock had 3 insider buys, and 22 sales for $88.60 million net activity. DOBMEIER ERIC had sold 5,411 shares worth $252,102. Another trade for 2,249 shares valued at $127,631 was sold by DRACHMAN JONATHAN G. Shares for $962,668 were sold by SIEGALL CLAY B on Monday, June 6. Another trade for 414,016 shares valued at $20.05M was bought by BAKER FELIX. Another trade for 5,397 shares valued at $248,307 was made by Cline Darren S on Tuesday, September 6. 3,991 shares were sold by SIMPSON TODD E, worth $185,943 on Monday, August 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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