Does Seattle Genetics, Inc. (SGEN) Have More Gas After Achieving 52-Week High?

July 13, 2018 - By Darrel Chase

Seattle Genetics, Inc. (NASDAQ:SGEN) Logo

Investors sentiment increased to 1.61 in 2018 Q1. Its up 0.38, from 1.23 in 2017Q4. It is positive, as 24 investors sold Seattle Genetics, Inc. shares while 53 reduced holdings. 31 funds opened positions while 93 raised stakes. 159.52 million shares or 12.47% more from 141.83 million shares in 2017Q4 were reported.
Price T Rowe Associate Md stated it has 0.08% in Seattle Genetics, Inc. (NASDAQ:SGEN). Lpl Financial Limited Com stated it has 80,063 shares or 0.01% of all its holdings. Earnest Partners Limited Liability has 0% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 35 shares. Deutsche Bankshares Ag, a Germany-based fund reported 510,828 shares. Millennium Management Limited Co reported 420,209 shares or 0.03% of all its holdings. Dekabank Deutsche Girozentrale, a Germany-based fund reported 82,866 shares. Citigroup has 16,837 shares for 0% of their portfolio. Barclays Public Limited Com reported 33,675 shares. Moreover, Kbc Grp Nv has 0.01% invested in Seattle Genetics, Inc. (NASDAQ:SGEN). Utah Retirement reported 19,600 shares. The Massachusetts-based Panagora Asset Mngmt has invested 0% in Seattle Genetics, Inc. (NASDAQ:SGEN). Cornerstone Advsrs has invested 0.01% in Seattle Genetics, Inc. (NASDAQ:SGEN). Pdts Prtn Lc has 191,912 shares. Balyasny Asset Mngmt Limited Liability Co holds 14,890 shares or 0% of its portfolio. Trexquant L P holds 0.08% or 22,406 shares in its portfolio.

Since February 1, 2018, it had 3 insider buys, and 11 insider sales for $267.92 million activity. Cline Darren S had sold 4,000 shares worth $215,238. HIMES VAUGHN B had sold 5,000 shares worth $292,365 on Thursday, May 31. 460,651 shares were bought by BAKER BROS. ADVISORS LP, worth $24.57M on Friday, May 4. DRACHMAN JONATHAN G also sold $552,452 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares.

The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) hit a new 52-week high and has $72.74 target or 3.00 % above today’s $70.62 share price. The 9 months bullish chart indicates low risk for the $11.17 billion company. The 1-year high was reported on Jul, 13 by Barchart.com. If the $72.74 price target is reached, the company will be worth $335.22M 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.

The stock increased 0.14% or $0.1 during the last trading session, reaching $70.62. About 323,729 shares traded. Seattle Genetics, Inc. (NASDAQ:SGEN) has declined 15.50% since July 13, 2017 and is downtrending. It has underperformed by 28.07% the S&P500.

Analysts await Seattle Genetics, Inc. (NASDAQ:SGEN) to report earnings on July, 26 after the close. They expect $-0.34 EPS, up 12.82 % or $0.05 from last year’s $-0.39 per share. After $-0.61 actual EPS reported by Seattle Genetics, Inc. for the previous quarter, Wall Street now forecasts -44.26 % EPS growth.

Seattle Genetics, Inc. (NASDAQ:SGEN) Ratings Coverage

Among 8 analysts covering Seattle Genetics (NASDAQ:SGEN), 7 have Buy rating, 0 Sell and 1 Hold. Therefore 88% are positive. Seattle Genetics has $77.0 highest and $60.0 lowest target. $68.13’s average target is -3.53% below currents $70.62 stock price. Seattle Genetics had 12 analyst reports since January 31, 2018 according to SRatingsIntel. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Overweight” rating given on Wednesday, February 14 by JP Morgan. As per Wednesday, February 14, the company rating was upgraded by J.P. Morgan. The rating was maintained by RBC Capital Markets on Wednesday, January 31 with “Buy”. The rating was maintained by Needham on Wednesday, February 7 with “Buy”. As per Wednesday, February 7, the company rating was maintained by H.C. Wainwright. RBC Capital Markets maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Tuesday, March 20 with “Buy” rating. The rating was upgraded by SunTrust to “Buy” on Monday, June 11. On Friday, April 27 the stock rating was maintained by H.C. Wainwright with “Buy”. The firm earned “Neutral” rating on Wednesday, February 7 by Bank of America. The firm has “Buy” rating by H.C. Wainwright given on Thursday, February 1.

More notable recent Seattle Genetics, Inc. (NASDAQ:SGEN) news were published by: Nasdaq.com which released: “Analysis: Positioning to Benefit within The Manitowoc, Omeros, Catabasis Pharmaceuticals, Zayo Group, Covanta …” on June 26, 2018, also Benzinga.com with their article: “Benzinga’s Daily Biotech Pulse: Amgen Resubmits Osteoporosis Drug BLA, Auris Medical Prices Offering” published on July 13, 2018, Seekingalpha.com published: “Don’t Sell Axon Enterprise – Cramer’s Lightning Round (7/11/18)” on July 12, 2018. More interesting news about Seattle Genetics, Inc. (NASDAQ:SGEN) were released by: Streetinsider.com and their article: “Seattle Genetics (SGEN), Astellas Announce Progress in Enfortumab Vedotin Urothelial Cancer Clinical Development …” published on July 09, 2018 as well as Streetinsider.com‘s news article titled: “Seattle Genetics (SGEN) Adcetris On-going Launch in 1L cHL is Positive Says SunTrust.” with publication date: July 02, 2018.

Seattle Genetics, Inc., a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. The company has market cap of $11.17 billion. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma. It currently has negative earnings. The firm also develops enfortumab vedotin, which is in Phase 1 clinical trial for Nectin-4-positive solid tumors, including bladder cancer; and tisotumab vedotin that is in Phase II clinical trial for patients with cervical cancer and solid tumors.

Seattle Genetics, Inc. (NASDAQ:SGEN) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.