Analysts Expect Seattle Genetics, Inc. (SGEN) Will Post Quarterly Sales of $109.73 Million

Wall Street analysts forecast that Seattle Genetics, Inc. (NASDAQ:SGEN) will post $109.73 million in sales for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Seattle Genetics’ earnings, with estimates ranging from $98.25 million to $127.40 million. Seattle Genetics reported sales of $105.28 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The firm is expected to issue its next earnings report on Thursday, February 8th.

On average, analysts expect that Seattle Genetics will report full year sales of $109.73 million for the current year, with estimates ranging from $450.89 million to $480.00 million. For the next fiscal year, analysts forecast that the business will report sales of $581.87 million per share, with estimates ranging from $533.00 million to $711.53 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. The firm had revenue of $135.29 million for the quarter, compared to analysts’ expectations of $112.76 million. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The company’s revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.23) earnings per share.

Several research analysts recently weighed in on the stock. BidaskClub upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 9th. Oppenheimer assumed coverage on shares of Seattle Genetics in a research report on Tuesday, October 10th. They issued a “hold” rating on the stock. Cantor Fitzgerald set a $46.00 price objective on shares of Seattle Genetics and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Cann started coverage on shares of Seattle Genetics in a research report on Wednesday, November 8th. They set a “hold” rating on the stock. Finally, Bank of America upgraded shares of Seattle Genetics from an “underperform” rating to a “neutral” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $63.76.

In other news, insider Vaughn B. Himes sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Todd E. Simpson sold 39,385 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $60.91, for a total value of $2,398,940.35. The disclosure for this sale can be found here. Insiders have sold 157,210 shares of company stock worth $9,094,911 over the last quarter. Company insiders own 34.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Capital Bank & Trust Co boosted its stake in shares of Seattle Genetics by 43.7% during the third quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock valued at $45,406,000 after purchasing an additional 253,753 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Seattle Genetics by 6.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock valued at $2,080,000 after purchasing an additional 2,500 shares during the period. South Dakota Investment Council boosted its stake in shares of Seattle Genetics by 46.8% during the third quarter. South Dakota Investment Council now owns 49,900 shares of the biotechnology company’s stock valued at $2,715,000 after purchasing an additional 15,900 shares during the period. Bristlecone Advisors LLC purchased a new stake in shares of Seattle Genetics during the third quarter valued at approximately $180,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Seattle Genetics during the third quarter valued at approximately $291,000. 98.89% of the stock is owned by hedge funds and other institutional investors.

Seattle Genetics (NASDAQ:SGEN) opened at $53.45 on Friday. The firm has a market cap of $7,690.00, a P/E ratio of -61.44 and a beta of 2.37. Seattle Genetics has a 52-week low of $45.31 and a 52-week high of $71.32.

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About Seattle Genetics

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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