Seattle Genetics (SGEN) Releases Quarterly Earnings, Beats Estimates By $0.09 EPS
Seattle Genetics (NASDAQ:SGEN) released its earnings data on Thursday. The company reported ($0.14) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.23) by $0.09, Analyst Ratings Network.com reports. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $65.04 million. During the same quarter last year, the company posted ($0.06) earnings per share. Seattle Genetics’s revenue was down 7.2% compared to the same quarter last year.
Shares of Seattle Genetics (NASDAQ:SGEN) traded down 1.92% on Thursday, hitting $35.20. The stock had a trading volume of 1,245,757 shares. Seattle Genetics has a 52-week low of $32.35 and a 52-week high of $55.99. The stock’s 50-day moving average is $37.44 and its 200-day moving average is $41.8. The company’s market cap is $4.335 billion.
A number of analysts have recently weighed in on SGEN shares. Analysts at Zacks upgraded shares of Seattle Genetics from a “neutral” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $42.10 price target on the stock. On the ratings front, analysts at Bank of America upgraded shares of Seattle Genetics from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $40.00 price target on the stock, down previously from $46.00. Finally, analysts at Cantor Fitzgerald raised their price target on shares of Seattle Genetics from $24.00 to $28.00 in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.23.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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