Equities research analysts expect Seattle Genetics, Inc. (NASDAQ:SGEN) to announce sales of $117.28 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Seattle Genetics’ earnings, with the highest sales estimate coming in at $123.39 million and the lowest estimate coming in at $112.00 million. Seattle Genetics posted sales of $109.13 million in the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The company is expected to announce its next earnings report on Thursday, April 26th.
According to Zacks, analysts expect that Seattle Genetics will report full year sales of $117.28 million for the current financial year, with estimates ranging from $495.42 million to $566.10 million. For the next year, analysts expect that the company will post sales of $726.76 million per share, with estimates ranging from $648.40 million to $833.66 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Seattle Genetics.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.02. The firm had revenue of $129.61 million during the quarter, compared to analysts’ expectations of $123.99 million. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.39) earnings per share.
A number of research analysts have weighed in on SGEN shares. TheStreet raised shares of Seattle Genetics from a “d” rating to a “c” rating in a research note on Thursday, November 16th. Oppenheimer reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Thursday, December 7th. BidaskClub raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. Cantor Fitzgerald set a $50.00 price target on shares of Seattle Genetics and gave the company a “hold” rating in a research note on Tuesday, December 12th. Finally, Cowen reaffirmed a “hold” rating and issued a $54.00 price target on shares of Seattle Genetics in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Seattle Genetics presently has an average rating of “Hold” and a consensus target price of $64.25.
Shares of Seattle Genetics (SGEN) traded down $0.73 during midday trading on Friday, reaching $58.59. 754,541 shares of the company were exchanged, compared to its average volume of 1,211,535. Seattle Genetics has a 52-week low of $45.31 and a 52-week high of $71.32. The firm has a market capitalization of $9,370.00, a PE ratio of -651.00 and a beta of 1.96.
In related news, CEO Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $57.32, for a total transaction of $1,079,450.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Jonathan G. Drachman sold 10,457 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $52.83, for a total transaction of $552,443.31. The disclosure for this sale can be found here. In the last three months, insiders sold 66,953 shares of company stock worth $3,542,588. 34.70% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. American International Group Inc. acquired a new position in Seattle Genetics during the fourth quarter worth $121,000. Quantbot Technologies LP increased its holdings in Seattle Genetics by 116.5% during the third quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after buying an additional 1,428 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Seattle Genetics by 82.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,861 shares of the biotechnology company’s stock worth $153,000 after buying an additional 1,294 shares during the last quarter. Virtu Financial LLC acquired a new position in Seattle Genetics during the third quarter worth $203,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Seattle Genetics during the third quarter worth $208,000. Institutional investors and hedge funds own 93.13% of the company’s stock.
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Seattle Genetics Company 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).
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