Price Don’t Lie: Is Buying Seattle Genetics, Inc. Here a Winning Strategy?

Price Don't Lie: Is Buying Seattle Genetics, Inc. Here a Winning Strategy?

The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) hit a new 52-week high and has $97.93 target or 45.00% above today’s $67.54 share price. The 7 months bullish chart indicates low risk for the $9.51B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $97.93 price target is reached, the company will be worth $4.28B 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 1.46M shares traded hands or 41.75% up from the average. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 61.86% since April 7, 2016 and is uptrending. It has outperformed by 57.08% 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. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, July 31 report. On Friday, October 30 the stock rating was upgraded by Piper Jaffray to “Neutral”. The rating was initiated by Barclays Capital on Thursday, February 4 with “Overweight”. Credit Suisse initiated the shares of SGEN in a report on Thursday, January 21 with “Outperform” rating. The firm has “Hold” rating given on Wednesday, July 27 by Cantor Fitzgerald. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Buy” rating given on Tuesday, August 25 by William Blair. The firm earned “Sell” rating on Wednesday, November 18 by Goldman Sachs. Barclays Capital maintained Seattle Genetics, Inc. (NASDAQ:SGEN) rating on Wednesday, July 27. Barclays Capital has “Overweight” rating and $53 price target. RBC Capital Markets maintained the stock with “Outperform” rating in Monday, October 10 report. As per Monday, September 14, the company rating was maintained by RBC Capital Markets.

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 2016 Q2. 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.
Swiss Bank has 0.01% invested in the company for 177,900 shares. Grp One Trading Lp owns 2,598 shares or 0% of their US portfolio. Mark Sheptoff Fincl Planning Ltd Liability Co owns 200 shares or 0.01% of their US portfolio. Tiaa Cref Llc has 290,178 shares for 0.01% of their US portfolio. Nationwide Fund Advisors accumulated 3,000 shares or 0% of the stock. Price T Rowe Associates Md last reported 3.69M shares in the company. Moreover, Alpha Windward Ltd Liability Corporation has 0.03% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 970 shares. Allianz Asset Ag last reported 142,668 shares in the company. Gotham Asset Mngmt Ltd Llc owns 30,082 shares or 0.01% of their US portfolio. Winfield Associate has 0% invested in the company for 40 shares. Manning Napier Advsrs Ltd Liability accumulated 0.06% or 228,321 shares. Tributary Cap Mngmt Ltd Liability accumulated 0.3% or 50,700 shares. Moreover, Fifth Third National Bank & Trust has 0% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 94 shares. The California-based Schwab Charles Incorporated has invested 0.01% in Seattle Genetics, Inc. (NASDAQ:SGEN). Moreover, Trexquant Investment L P has 0.08% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 15,469 shares.

Insider Transactions: Since May 17, 2016, the stock had 3 insider buys, and 22 selling transactions for $88.60 million net activity. Cline Darren S sold $141,617 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) on Thursday, June 2. SIMPSON TODD E had sold 3,991 shares worth $185,943 on Monday, August 22. Another trade for 12,589 shares valued at $604,272 was sold by DOBMEIER ERIC. Shares for $550,212 were sold by SIEGALL CLAY B. $176,847 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) was sold by DRACHMAN JONATHAN G. $57.85 million worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were bought by BAKER FELIX. $185,943 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were sold by HIMES VAUGHN B.

More news for Seattle Genetics, Inc. (NASDAQ:SGEN) were recently published by: Fool.com, which released: “5 Years After Adcetris Approval, Seattle Genetics, Inc. Still Focused on Pipeline” on October 31, 2016. Businesswire.com‘s article titled: “Seattle Genetics and Takeda Complete Enrollment of Phase 3 ECHELON-2 Clinical …” and published on November 08, 2016 is yet another important article.

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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