Seattle Genetics (NASDAQ:SGEN) Upgrade
Trading of Seattle Genetics (NASDAQ:SGEN)’s shares is going to be interesting today, as Barclays raised the stock from a Equal Weight to a Overweight. Along the rating upgrade, Barclays analysts gave a target price of $70.0 or 9.36 % more.
In spite of this stock rating upgrade NASDAQ:SGEN is currently trading -0.12% lower at $63.93 as of 4:03 AM New York time. Seattle Genetics’s stock is 0% over the last 200 days. It has underperformed the S&P500, which has added 6.00% over the same time period.
Baker Bros. Advisors Lp had the largest stake with ownership of 44.10 million shares as of Q2 2015 for 21.61% of the fund portfolio. Lagoda Investment Management L.P. is another bullish investment manager who is owning 567,057 shares of Seattle Genetics or 9.21% of their fund portfolio. Also, Redmile Group Llc have 7.65% of their fund portfolio invested in the company for 1.78 million shares. The Massachusetts-based fund Eventide Asset Management Llc revealed it had acquired so far a stake worth about 2.76% of the investment manager’s stock portfolio in Seattle Genetics. The Utah-based fund Wasatch Advisors Inc is also positive about the stock, possessing 835,506 shares or 2.29% of their fund portfolio.
Seattle Genetics (NASDAQ:SGEN) Profile
Seattle Genetics, Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).
Seattle Genetics (NASDAQ:SGEN) traded down -0.12% on 20 October, hitting $63.93. A total of 359,406 shares of the company’s stock traded hands. This is down from average of 1.09M shares. Seattle Genetics has a 52 week low of $45.31 and a 52 week high of $75.36. The company has a market cap of $9.14B and a P/E ratio of 0.
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The post Seattle Genetics (NASDAQ:SGEN) Rating was Upgraded by Analysts at Barclays from Equal Weight to Overweight. The Target Price is Set to to $70.0 appeared first on Octafinance.