Brokerages expect Seattle Genetics, Inc. (NASDAQ:SGEN) to announce earnings per share of ($0.15) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Seattle Genetics’ earnings, with the highest EPS estimate coming in at $2.84 and the lowest estimate coming in at ($0.65). Seattle Genetics reported earnings of ($0.54) per share in the same quarter last year, which would suggest a positive year over year growth rate of 72.2%. The company is scheduled to issue its next earnings report on Tuesday, November 3rd.
On average, analysts expect that Seattle Genetics will report full-year earnings of ($0.81) per share for the current fiscal year, with EPS estimates ranging from ($2.53) to $1.98. For the next fiscal year, analysts anticipate that the business will post earnings of ($0.21) per share, with EPS estimates ranging from ($1.44) to $0.96. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Seattle Genetics.
Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, July 30th. The biotechnology company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.46. Seattle Genetics had a negative return on equity of 18.32% and a negative net margin of 25.17%. The firm had revenue of $278.00 million for the quarter, compared to analysts’ expectations of $256.74 million.
SGEN has been the topic of several recent analyst reports. BMO Capital Markets boosted their price target on Seattle Genetics from $174.00 to $186.00 in a research note on Tuesday, June 30th. ValuEngine upgraded Seattle Genetics from a “hold” rating to a “buy” rating in a research note on Thursday. William Blair reiterated a “buy” rating on shares of Seattle Genetics in a research note on Thursday, July 2nd. HC Wainwright reissued a “buy” rating and issued a $200.00 price objective (up from $175.00) on shares of Seattle Genetics in a report on Friday, July 31st. Finally, BidaskClub raised Seattle Genetics from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $156.26.
Shares of SGEN traded down $4.81 during midday trading on Monday, reaching $193.08. 747,892 shares of the company were exchanged, compared to its average volume of 1,160,240. The stock has a 50-day moving average price of $164.29 and a 200-day moving average price of $153.36. The company has a market cap of $33.60 billion, a price-to-earnings ratio of -127.87 and a beta of 1.26. Seattle Genetics has a 1-year low of $79.34 and a 1-year high of $200.42.
In other news, CEO Clay B. Siegall sold 28,472 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $175.08, for a total value of $4,984,877.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vaughn B. Himes sold 8,000 shares of the company’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of $179.42, for a total transaction of $1,435,360.00. Following the completion of the transaction, the insider now directly owns 199,840 shares in the company, valued at $35,855,292.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,972 shares of company stock worth $28,422,822. Company insiders own 31.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SGEN. Atria Investments LLC acquired a new position in Seattle Genetics during the second quarter worth $5,602,000. Two Sigma Advisers LP acquired a new position in Seattle Genetics during the second quarter worth $3,670,000. Principal Financial Group Inc. increased its position in Seattle Genetics by 35.3% during the second quarter. Principal Financial Group Inc. now owns 119,070 shares of the biotechnology company’s stock worth $20,232,000 after buying an additional 31,044 shares during the last quarter. Garde Capital Inc. acquired a new position in Seattle Genetics during the second quarter worth $246,000. Finally, Bridgeway Capital Management Inc. increased its position in Seattle Genetics by 5.3% during the second quarter. Bridgeway Capital Management Inc. now owns 19,700 shares of the biotechnology company’s stock worth $3,347,000 after buying an additional 1,000 shares during the last quarter. 91.96% of the stock is currently owned by institutional investors and hedge funds.
Seattle Genetics Company Profile
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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