Will This Analyst Downgrade Hurt Seattle Genetics (SGEN) Stock Today?

NEW YORK (TheStreet) -- Shares of Seattle Genetics  (SGEN) fell 5.29% to $36.36 in morning trading Tuesday after Bank of America/Merrill Lynch  (BAC) downgraded the stock to "underperform" from "neutral."

The firm said Aethera data was not as positive as expected.

Bank of America/Merrill Lynch set a $34 price target on the stock.

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Separately, TheStreet Ratings team rates SEATTLE GENETICS INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate SEATTLE GENETICS INC (SGEN) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."

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