Brokerages expect Seattle Genetics, Inc. (NASDAQ:SGEN) to post earnings of ($0.37) per share for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Seattle Genetics’ earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at ($0.29). Seattle Genetics posted earnings per share of ($0.27) during the same quarter last year, which suggests a negative year-over-year growth rate of 37%. The business is scheduled to report its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Seattle Genetics will report full year earnings of ($1.32) per share for the current year, with EPS estimates ranging from ($1.48) to ($1.03). For the next year, analysts forecast that the company will report earnings of ($0.73) per share, with EPS estimates ranging from ($1.76) to $0.08. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Seattle Genetics.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.10). Seattle Genetics had a negative return on equity of 17.16% and a negative net margin of 36.94%. The business had revenue of $218.45 million during the quarter, compared to analyst estimates of $189.76 million. During the same quarter last year, the firm posted $0.47 EPS. The company’s revenue was up 28.4% compared to the same quarter last year.
Several analysts recently weighed in on the company. Deutsche Bank assumed coverage on Seattle Genetics in a report on Thursday, July 18th. They issued a “hold” rating and a $79.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating on shares of Seattle Genetics in a research note on Friday, April 26th. William Blair reaffirmed a “buy” rating on shares of Seattle Genetics in a research note on Friday, July 19th. Piper Jaffray Companies raised shares of Seattle Genetics from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $64.00 to $75.00 in a research note on Wednesday, July 17th. Finally, ValuEngine raised shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $84.36.
Shares of NASDAQ:SGEN traded down $1.61 during trading on Thursday, hitting $78.36. The company’s stock had a trading volume of 430,799 shares, compared to its average volume of 909,863. Seattle Genetics has a fifty-two week low of $50.71 and a fifty-two week high of $84.37. The stock’s 50-day moving average price is $73.54 and its two-hundred day moving average price is $71.51. The company has a market capitalization of $12.89 billion, a PE ratio of -47.49 and a beta of 2.04.
In other Seattle Genetics news, insider Vaughn B. Himes sold 8,000 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $65.94, for a total transaction of $527,520.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Clay B. Siegall sold 20,149 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $76.52, for a total transaction of $1,541,801.48. The disclosure for this sale can be found here. Insiders sold 82,577 shares of company stock worth $5,833,478 over the last ninety days. 33.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Seattle Genetics by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 1,116,057 shares of the biotechnology company’s stock worth $63,196,000 after buying an additional 69,251 shares in the last quarter. Deutsche Bank AG lifted its position in Seattle Genetics by 10.3% in the fourth quarter. Deutsche Bank AG now owns 77,996 shares of the biotechnology company’s stock worth $4,417,000 after purchasing an additional 7,306 shares during the period. Flagship Harbor Advisors LLC lifted its position in Seattle Genetics by 112.9% in the first quarter. Flagship Harbor Advisors LLC now owns 660 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 350 shares during the period. Spectrum Management Group Inc. acquired a new stake in Seattle Genetics in the first quarter worth approximately $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in Seattle Genetics in the first quarter worth approximately $394,000. 98.23% of the stock is currently owned by hedge funds and other institutional investors.
About Seattle Genetics
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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