Equities analysts predict that Seattle Genetics, Inc. (NASDAQ:SGEN) will announce $112.76 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Seattle Genetics’ earnings. The highest sales estimate is $116.00 million and the lowest is $109.00 million. Seattle Genetics reported sales of $106.32 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The company is expected to report its next earnings results on Thursday, October 26th.

On average, analysts expect that Seattle Genetics will report full-year sales of $112.76 million for the current financial year, with estimates ranging from $437.20 million to $457.50 million. For the next financial year, analysts anticipate that the company will report sales of $579.40 million per share, with estimates ranging from $524.90 million to $709.33 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) 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 business had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. Seattle Genetics’s revenue was up 13.4% compared to the same quarter last year.

Several equities research analysts have recently commented on SGEN shares. ValuEngine raised Seattle Genetics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Seattle Genetics in a research note on Saturday, June 3rd. Cowen and Company set a $61.00 price target on Seattle Genetics and gave the company a “hold” rating in a research note on Tuesday, June 6th. J P Morgan Chase & Co restated a “hold” rating and issued a $58.00 price target on shares of Seattle Genetics in a research note on Tuesday, June 13th. Finally, Cann restated a “hold” rating on shares of Seattle Genetics in a research note on Monday, June 19th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $62.29.

In related news, CFO Todd E. Simpson sold 4,937 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $236,432.93. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Clay B. Siegall sold 10,413 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $48.91, for a total value of $509,299.83. The disclosure for this sale can be found here. Insiders have sold a total of 185,352 shares of company stock worth $9,524,196 in the last quarter. Company insiders own 34.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its position in shares of 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 purchasing an additional 59 shares during the period. Aperio Group LLC increased its position in shares of 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 purchasing an additional 91 shares during the period. Eqis Capital Management Inc. increased its position in shares of Seattle Genetics by 0.7% in the second quarter. Eqis Capital Management Inc. now owns 26,258 shares of the biotechnology company’s stock worth $1,359,000 after purchasing an additional 177 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Seattle Genetics by 1.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 18,400 shares of the biotechnology company’s stock worth $952,000 after purchasing an additional 200 shares during the period. Finally, M&T Bank Corp increased its position in shares of Seattle Genetics by 7.3% in the first quarter. M&T Bank Corp now owns 4,376 shares of the biotechnology company’s stock worth $276,000 after purchasing an additional 297 shares during the period. Institutional investors own 97.70% of the company’s stock.

Seattle Genetics (NASDAQ SGEN) opened at 53.40 on Thursday. The company’s market cap is $7.64 billion. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $75.36. The company’s 50-day moving average is $49.68 and its 200-day moving average is $59.34.

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

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