Zacks: Analysts Anticipate Seattle Genetics, Inc. (SGEN) to Announce -$0.42 Earnings Per Share

Equities research analysts expect Seattle Genetics, Inc. (NASDAQ:SGEN) to post ($0.42) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Seattle Genetics’ earnings, with estimates ranging from ($0.47) to ($0.31). Seattle Genetics reported earnings per share of ($0.23) in the same quarter last year, which would indicate a negative year-over-year growth rate of 82.6%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, October 26th.

On average, analysts expect that Seattle Genetics will report full year earnings of ($1.67) per share for the current year, with EPS estimates ranging from ($1.79) to ($1.52). For the next financial year, analysts anticipate that the company will post earnings of ($1.31) per share, with EPS estimates ranging from ($1.86) to ($0.28). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The company had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. During the same period in the prior year, the company posted ($0.23) EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis.

A number of equities research analysts have recently issued reports on SGEN shares. Morgan Stanley reduced their price target on shares of Seattle Genetics from $70.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 21st. Barclays PLC reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Friday, June 23rd. Cantor Fitzgerald reiterated a “hold” rating and set a $43.00 price target on shares of Seattle Genetics in a report on Monday, June 26th. Piper Jaffray Companies reiterated a “neutral” rating and set a $48.00 price target on shares of Seattle Genetics in a report on Tuesday, June 27th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Seattle Genetics in a report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $60.38.

WARNING: This article was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://ledgergazette.com/2017/10/19/zacks-analysts-anticipate-seattle-genetics-inc-sgen-to-announce-0-42-earnings-per-share.html.

Seattle Genetics (SGEN) traded up 0.52% during mid-day trading on Thursday, reaching $64.01. 855,028 shares of the company were exchanged. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $75.36. The company’s market capitalization is $9.16 billion. The company has a 50 day moving average of $55.59 and a 200-day moving average of $57.65.

In other Seattle Genetics news, EVP Darren S. Cline sold 1,788 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $47.89, for a total transaction of $85,627.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Clay B. Siegall sold 25,506 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $1,221,482.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,761 shares of company stock worth $9,494,450. Company insiders own 34.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC grew its stake in Seattle Genetics by 0.5% during the 1st quarter. Neuberger Berman Group LLC now owns 12,630 shares of the biotechnology company’s stock valued at $794,000 after acquiring an additional 59 shares in the last quarter. Aperio Group LLC grew its stake in shares of Seattle Genetics by 0.3% in the 2nd quarter. Aperio Group LLC now owns 31,693 shares of the biotechnology company’s stock valued at $1,640,000 after buying an additional 91 shares in the last quarter. Eqis Capital Management Inc. grew its stake in shares of Seattle Genetics by 0.7% in the 2nd quarter. Eqis Capital Management Inc. now owns 26,258 shares of the biotechnology company’s stock valued at $1,359,000 after buying an additional 177 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Seattle Genetics by 1.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,400 shares of the biotechnology company’s stock valued at $952,000 after buying an additional 200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Seattle Genetics by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 299 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

About Seattle Genetics

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).

Get a free copy of the Zacks research report on Seattle Gene

On average, analysts expect that Seattle Genetics will report full year earnings of ($1.67) per share for the current year, with EPS estimates ranging from ($1.79) to ($1.52). For the next financial year, analysts anticipate that the company will post earnings of ($1.31) per share, with EPS estimates ranging from ($1.86) to ($0.28). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The company had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. During the same period in the prior year, the company posted ($0.23) EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis.

A number of equities research analysts have recently issued reports on SGEN shares. Morgan Stanley reduced their price target on shares of Seattle Genetics from $70.00 to $64.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 21st. Barclays PLC reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Friday, June 23rd. Cantor Fitzgerald reiterated a “hold” rating and set a $43.00 price target on shares of Seattle Genetics in a report on Monday, June 26th. Piper Jaffray Companies reiterated a “neutral” rating and set a $48.00 price target on shares of Seattle Genetics in a report on Tuesday, June 27th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Seattle Genetics in a report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $60.38.

WARNING: This article was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://ledgergazette.com/2017/10/19/zacks-analysts-anticipate-seattle-genetics-inc-sgen-to-announce-0-42-earnings-per-share.html.

Seattle Genetics (SGEN) traded up 0.52% during mid-day trading on Thursday, reaching $64.01. 855,028 shares of the company were exchanged. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $75.36. The company’s market capitalization is $9.16 billion. The company has a 50 day moving average of $55.59 and a 200-day moving average of $57.65.

In other Seattle Genetics news, EVP Darren S. Cline sold 1,788 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $47.89, for a total transaction of $85,627.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Clay B. Siegall sold 25,506 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $1,221,482.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,761 shares of company stock worth $9,494,450. Company insiders own 34.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC grew its stake in Seattle Genetics by 0.5% during the 1st quarter. Neuberger Berman Group LLC now owns 12,630 shares of the biotechnology company’s stock valued at $794,000 after acquiring an additional 59 shares in the last quarter. Aperio Group LLC grew its stake in shares of Seattle Genetics by 0.3% in the 2nd quarter. Aperio Group LLC now owns 31,693 shares of the biotechnology company’s stock valued at $1,640,000 after buying an additional 91 shares in the last quarter. Eqis Capital Management Inc. grew its stake in shares of Seattle Genetics by 0.7% in the 2nd quarter. Eqis Capital Management Inc. now owns 26,258 shares of the biotechnology company’s stock valued at $1,359,000 after buying an additional 177 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Seattle Genetics by 1.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 18,400 shares of the biotechnology company’s stock valued at $952,000 after buying an additional 200 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Seattle Genetics by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 299 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

About Seattle Genetics

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).

Get a free copy of the Zacks research report on Seattle Genetics (SGEN)

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Earnings History and Estimates for Seattle Genetics (NASDAQ:SGEN)

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