Rating Worth Mentioning: Seattle Genetics (NASDAQ:SGEN)’s Is Reaching An Inflection Point; Barclays Downgrades It

November 29, 2016 - By Dolores Ford

Rating Worth Mentioning: Seattle Genetics (NASDAQ:SGEN)'s Is Reaching An Inflection Point; Barclays Downgrades It

Seattle Genetics (NASDAQ:SGEN) Downgrade

In a an analyst report revealed to clients and investors on Tuesday morning, Barclays has decreased Seattle Genetics (NASDAQ:SGEN) stock to Equal-Weight. SGEN’s old rating was Overweight.

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 -14.95% below today’s ($67.02) stock price. Seattle Genetics has been the topic of 14 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Cantor Fitzgerald downgraded Seattle Genetics, Inc. (NASDAQ:SGEN) on Wednesday, July 27 to “Hold” rating. As per Tuesday, August 25, the company rating was maintained by William Blair. The stock has “Overweight” rating given by Barclays Capital on Thursday, February 4. The stock has “Neutral” rating given by Piper Jaffray on Friday, October 30. The rating was upgraded by Goldman Sachs to “Neutral” on Thursday, September 15. The firm earned “Overweight” rating on Wednesday, July 27 by Barclays Capital. As per Wednesday, November 18, the company rating was initiated by Goldman Sachs. As per Wednesday, September 7, the company rating was initiated by Morgan Stanley. The firm earned “Outperform” rating on Friday, July 31 by RBC Capital Markets. The company was initiated on Thursday, January 21 by Credit Suisse.

About 949,471 shares traded hands. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 71.42% since April 26, 2016 and is uptrending. It has outperformed by 66.16% the S&P500.

Analysts await Seattle Genetics, Inc. (NASDAQ:SGEN) to report earnings on February, 14. They expect $-0.33 EPS, down 83.33% or $0.15 from last year’s $-0.18 per share. After $-0.23 actual EPS reported by Seattle Genetics, Inc. for the previous quarter, Wall Street now forecasts 43.48% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 1 in Q2 2016. Its up 0.09, from 0.91 in 2016Q1. The ratio improved, 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.

Alliancebernstein Limited Partnership, a New York-based fund reported 65,210 shares. Paloma Partners Mgmt holds 0.01% or 22,133 shares in its portfolio. The California-based Planning has invested 0.44% in Seattle Genetics, Inc. (NASDAQ:SGEN). Ubs Asset Americas accumulated 0% or 85,148 shares. Mitsubishi Ufj And Banking has 888,429 shares for 0.08% of their US portfolio. Parametric Portfolio Associates Limited Co accumulated 0.01% or 106,292 shares. Wells Fargo Co Mn reported 74,708 shares or 0% of all its holdings. Ameriprise Inc holds 0% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 49,820 shares. Barclays Plc accumulated 84,143 shares or 0% of the stock. Art Advisors Limited Liability holds 0.15% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 74,229 shares. Moreover, Gotham Asset Management Limited Liability has 0.01% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 30,082 shares. Pdts Limited Liability Corporation accumulated 156,800 shares or 0.5% of the stock. Columbia Wanger Asset Management Ltd Liability Com has invested 0.67% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Credit Suisse Ag holds 285,131 shares or 0.01% of its portfolio. Teachers Advsr Inc holds 0.01% or 79,135 shares in its portfolio.

Insider Transactions: Since June 2, 2016, the stock had 4 insider purchases, and 21 insider sales for $112.60 million net activity. Another trade for 414,016 shares valued at $20.05M was made by BAKER FELIX on Tuesday, September 6. Another trade for 3,418 shares valued at $176,847 was made by DRACHMAN JONATHAN G on Tuesday, November 1. SIEGALL CLAY B sold $1.57 million worth of stock. Shares for $604,272 were sold by DOBMEIER ERIC. $185,943 worth of shares were sold by SIMPSON TODD E on Monday, August 22. HIMES VAUGHN B sold $185,943 worth of stock. LIPPMAN MARC E sold 1,000 shares worth $57,749.

Seattle Genetics, Inc. is a biotechnology firm focused on the development and commercialization of therapies for the treatment of cancer. The company has a market cap of $8.85 billion. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate , comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE). It currently has negative earnings. 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.

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.”

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.

More 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 Forbes.com published the news titled: “First Week of January 2017 Options Trading For Seattle Genetics (SGEN)” on November 22, 2016. Businesswire.com‘s news article titled: “Seattle Genetics and Takeda Complete Enrollment of Phase 3 ECHELON-2 Clinical …” with publication date: November 08, 2016 was also an interesting one.

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