Wall Street analysts expect that Seattle Genetics (NASDAQ:SGEN) will announce earnings of ($0.41) per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Seattle Genetics’ earnings. The highest EPS estimate is ($0.34) and the lowest is ($0.46). Seattle Genetics reported earnings of ($0.42) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.4%. The company is scheduled to issue its next earnings results after the market closes on Thursday, April 26th.
On average, analysts expect that Seattle Genetics will report full year earnings of ($1.57) per share for the current fiscal year, with EPS estimates ranging from ($1.83) to ($1.31). For the next financial year, analysts expect that the firm will report earnings of ($0.80) per share, with EPS estimates ranging from ($1.91) to ($0.40). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Seattle Genetics.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The company had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. The company’s revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.39) earnings per share.
SGEN has been the topic of several research reports. Cantor Fitzgerald set a $50.00 price target on shares of Seattle Genetics and gave the company a “hold” rating in a research note on Tuesday, March 20th. BidaskClub downgraded shares of Seattle Genetics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 4th. Cowen restated a “hold” rating on shares of Seattle Genetics in a research note on Tuesday, March 13th. TheStreet downgraded shares of Seattle Genetics from a “c-” rating to a “d+” rating in a research note on Wednesday, February 28th. Finally, SunTrust Banks restated a “hold” rating and issued a $60.00 price target on shares of Seattle Genetics in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $64.00.
Shares of SGEN traded up $1.21 during trading hours on Thursday, hitting $51.53. The company had a trading volume of 118,045 shares, compared to its average volume of 1,097,302. The firm has a market capitalization of $7,945.95, a PE ratio of -58.61 and a beta of 1.84. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $71.32.
In other Seattle Genetics news, insider Vaughn B. Himes sold 5,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $58.12, for a total transaction of $290,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $50.52, for a total transaction of $951,392.64. The disclosure for this sale can be found here. Insiders have sold 71,953 shares of company stock worth $3,810,778 over the last quarter. Corporate insiders own 33.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SGEN. New York State Common Retirement Fund grew its stake in Seattle Genetics by 1.5% during the third quarter. New York State Common Retirement Fund now owns 265,358 shares of the biotechnology company’s stock worth $14,438,000 after buying an additional 4,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Seattle Genetics by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 439,432 shares of the biotechnology company’s stock worth $23,910,000 after buying an additional 13,303 shares in the last quarter. Legal & General Group Plc grew its stake in Seattle Genetics by 16.5% during the third quarter. Legal & General Group Plc now owns 127,070 shares of the biotechnology company’s stock worth $6,914,000 after buying an additional 17,981 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Seattle Genetics by 2.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 304,561 shares of the biotechnology company’s stock worth $16,572,000 after buying an additional 8,349 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Seattle Genetics during the third quarter worth about $208,000. Hedge funds and other institutional investors own 92.99% of the company’s stock.
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About Seattle Genetics
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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