Seattle Genetics, Inc. (NASDAQ:SGEN) – Stock analysts at SunTrust Banks issued their Q3 2018 EPS estimates for Seattle Genetics in a research note issued to investors on Wednesday. SunTrust Banks analyst Y. Suneja forecasts that the biotechnology company will earn ($0.48) per share for the quarter. SunTrust Banks has a “Hold” rating and a $60.00 price target on the stock. SunTrust Banks also issued estimates for Seattle Genetics’ Q4 2018 earnings at ($0.51) EPS, FY2018 earnings at ($1.83) EPS, FY2019 earnings at ($0.80) EPS and FY2020 earnings at $0.80 EPS.
A number of other research analysts have also commented on SGEN. Zacks Investment Research lowered Seattle Genetics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Barclays upped their target price on Seattle Genetics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, October 16th. Guggenheim reaffirmed a “buy” rating and issued a $72.00 target price on shares of Seattle Genetics in a report on Monday, October 23rd. Jefferies Group reissued a “buy” rating and issued a $53.00 price target on shares of Seattle Genetics in a research note on Thursday, October 26th. Finally, Bank of America raised Seattle Genetics from an “underperform” rating to a “neutral” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Seattle Genetics has an average rating of “Hold” and an average price target of $64.56.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The firm had revenue of $129.61 million for the quarter, compared to analysts’ expectations of $123.99 million. Seattle Genetics had a negative return on equity of 33.36% and a negative net margin of 26.03%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) EPS.
Hedge funds have recently bought and sold shares of the company. Capital Bank & Trust Co lifted its position in Seattle Genetics by 43.7% in the 3rd quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock valued at $45,406,000 after acquiring an additional 253,753 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Seattle Genetics by 6.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock worth $2,080,000 after purchasing an additional 2,500 shares during the last quarter. South Dakota Investment Council lifted its stake in Seattle Genetics by 46.8% in the third quarter. South Dakota Investment Council now owns 49,900 shares of the biotechnology company’s stock worth $2,715,000 after purchasing an additional 15,900 shares during the last quarter. Bristlecone Advisors LLC bought a new stake in Seattle Genetics in the third quarter worth about $180,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Seattle Genetics in the third quarter worth about $291,000. Institutional investors own 98.92% of the company’s stock.
In other news, COO Eric Dobmeier sold 9,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.80, for a total value of $554,880.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Marc E. Lippman sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $58.07, for a total value of $174,210.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,993 shares of company stock worth $5,603,714. Corporate insiders own 34.70% of the company’s stock.
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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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