Wall Street analysts forecast that Seattle Genetics, Inc. (NASDAQ:SGEN) will post sales of $165.13 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Seattle Genetics’ earnings, with the lowest sales estimate coming in at $163.00 million and the highest estimate coming in at $166.89 million. Seattle Genetics posted sales of $129.61 million during the same quarter last year, which suggests a positive year over year growth rate of 27.4%. The firm is scheduled to report its next earnings report on Tuesday, February 5th.
On average, analysts expect that Seattle Genetics will report full-year sales of $645.20 million for the current year, with estimates ranging from $643.00 million to $647.08 million. For the next financial year, analysts anticipate that the firm will post sales of $850.10 million, with estimates ranging from $810.40 million to $927.10 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Seattle Genetics.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, October 25th. The biotechnology company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.15). The business had revenue of $169.42 million for the quarter, compared to analysts’ expectations of $164.75 million. Seattle Genetics had a negative net margin of 26.58% and a negative return on equity of 19.13%.
A number of research firms have commented on SGEN. Cann reissued a “hold” rating on shares of Seattle Genetics in a research report on Monday, October 1st. TheStreet downgraded shares of Seattle Genetics from a “c” rating to a “d+” rating in a research report on Thursday, October 25th. BidaskClub downgraded shares of Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Piper Jaffray Companies cut their target price on shares of Seattle Genetics to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $85.00 target price on shares of Seattle Genetics in a research report on Wednesday, September 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Seattle Genetics currently has a consensus rating of “Buy” and an average target price of $77.77.
In other news, insider Vaughn B. Himes sold 5,000 shares of Seattle Genetics stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $62.14, for a total value of $310,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Clay B. Siegall sold 20,148 shares of Seattle Genetics stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $77.39, for a total transaction of $1,559,253.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,611 shares of company stock worth $5,334,380. Insiders own 33.80% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Seattle Genetics in the 3rd quarter worth approximately $104,000. Paradigm Asset Management Co. LLC purchased a new position in shares of Seattle Genetics in the 3rd quarter worth approximately $108,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Seattle Genetics in the 2nd quarter worth approximately $139,000. Glenmede Trust Co. NA grew its position in shares of Seattle Genetics by 500.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,400 shares of the biotechnology company’s stock worth $185,000 after buying an additional 2,000 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in shares of Seattle Genetics in the 3rd quarter worth approximately $216,000.
NASDAQ SGEN opened at $59.99 on Friday. The stock has a market cap of $9.78 billion, a price-to-earnings ratio of -68.17 and a beta of 2.20. Seattle Genetics has a one year low of $47.75 and a one year high of $84.37.
Seattle Genetics Company Profile
Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.
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