Analysts predict that Seattle Genetics, Inc. (NASDAQ:SGEN) will post $107.20 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Seattle Genetics’ earnings. The highest sales estimate is $114.50 million and the lowest is $103.00 million. Seattle Genetics posted sales of $95.40 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.4%. The company is scheduled to issue its next earnings results after the market closes on Thursday, July 27th.

On average, analysts expect that Seattle Genetics will report full-year sales of $107.20 million for the current year, with estimates ranging from $428.60 million to $448.03 million. For the next financial year, analysts expect that the company will post sales of $577.98 million per share, with estimates ranging from $516.40 million to $709.33 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, April 27th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.01. The business had revenue of $109.10 million during the quarter, compared to the consensus estimate of $103.23 million. Seattle Genetics had a negative net margin of 43.17% and a negative return on equity of 27.98%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) EPS.

Several brokerages have weighed in on SGEN. HC Wainwright upped their target price on shares of Seattle Genetics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Cann restated a “hold” rating on shares of Seattle Genetics in a research report on Thursday, April 27th. Zacks Investment Research upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Seattle Genetics in a research report on Saturday, June 3rd. Finally, Cowen and Company set a $61.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a research report on Tuesday, June 6th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Seattle Genetics has a consensus rating of “Hold” and an average price target of $61.00.

In other Seattle Genetics news, CMO Jonathan G. Drachman sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $64.01, for a total transaction of $640,100.00. Following the transaction, the chief marketing officer now owns 125,204 shares of the company’s stock, valued at $8,014,308.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Clay B. Siegall sold 10,423 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $51.98, for a total transaction of $541,787.54. The disclosure for this sale can be found here. Insiders have sold 30,846 shares of company stock worth $1,861,571 in the last three months. Insiders own 33.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Tradewinds Capital Management LLC increased its position in Seattle Genetics by 2.3% in the first quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock worth $147,000 after buying an additional 52 shares in the last quarter. Neuberger Berman Group LLC increased its position in Seattle Genetics by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 12,630 shares of the biotechnology company’s stock worth $794,000 after buying an additional 59 shares in the last quarter. Aperio Group LLC increased its position in Seattle Genetics by 0.3% in the second quarter. Aperio Group LLC now owns 31,693 shares of the biotechnology company’s stock worth $1,640,000 after buying an additional 91 shares in the last quarter. Grandfield & Dodd LLC increased its position in Seattle Genetics by 1.0% in the first quarter. Grandfield & Dodd LLC now owns 9,506 shares of the biotechnology company’s stock worth $598,000 after buying an additional 95 shares in the last quarter. Finally, Atria Investments LLC increased its position in Seattle Genetics by 3.5% in the first quarter. Atria Investments LLC now owns 4,207 shares of the biotechnology company’s stock worth $264,000 after buying an additional 143 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “$107.20 Million in Sales Expected for Seattle Genetics, Inc. (SGEN) This Quarter” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/07/19/107-20-million-in-sales-expected-for-seattle-genetics-inc-sgen-this-quarter-2.html.

Shares of Seattle Genetics (NASDAQ SGEN) traded up 1.26% during midday trading on Wednesday, reaching $54.00. 872,546 shares of the company’s stock traded hands. The stock’s market cap is $7.71 billion. The stock has a 50 day moving average of $58.80 and a 200-day moving average of $62.15. Seattle Genetics has a 52-week low of $41.84 and a 52-week high of $75.36.

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).

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

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Seattle Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.