Wall Street analysts expect Seattle Genetics, Inc. (NASDAQ:SGEN) to report $117.28 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Seattle Genetics’ earnings, with estimates ranging from $112.00 million to $123.39 million. Seattle Genetics posted sales of $109.13 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.5%. The firm is scheduled to report its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Seattle Genetics will report full-year sales of $117.28 million for the current fiscal year, with estimates ranging from $495.42 million to $566.10 million. For the next year, analysts expect that the company will report sales of $726.76 million per share, with estimates ranging from $648.40 million to $833.66 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Seattle Genetics.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.02. The business had revenue of $129.61 million during the quarter, compared to analyst estimates of $123.99 million. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.39) EPS.
A number of research firms have weighed in on SGEN. TheStreet raised Seattle Genetics from a “d” rating to a “c” rating in a report on Thursday, November 16th. Cowen reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Tuesday. BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a report on Saturday, December 9th. Oppenheimer reissued a “hold” rating on shares of Seattle Genetics in a report on Thursday, December 7th. Finally, HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Seattle Genetics in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $64.25.
Seattle Genetics (SGEN) traded down $0.73 during mid-day trading on Friday, reaching $58.59. The company’s stock had a trading volume of 754,541 shares, compared to its average volume of 1,211,535. The stock has a market cap of $9,370.00, a price-to-earnings ratio of -651.00 and a beta of 1.96. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $71.32.
In other news, Director Bros. Advisors Lp Baker bought 3,846,153 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $52.00 per share, for a total transaction of $199,999,956.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $57.32, for a total value of $1,079,450.24. The disclosure for this sale can be found here. Insiders sold a total of 66,953 shares of company stock valued at $3,542,588 in the last 90 days. 34.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in SGEN. Manning & Napier Advisors LLC bought a new stake in Seattle Genetics in the 3rd quarter worth approximately $140,098,000. Capital International Investors lifted its position in Seattle Genetics by 63.7% in the 3rd quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock worth $242,682,000 after buying an additional 1,735,657 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Seattle Genetics by 92.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,469,888 shares of the biotechnology company’s stock worth $132,139,000 after buying an additional 1,184,491 shares during the last quarter. Capital Guardian Trust Co. lifted its position in Seattle Genetics by 82.2% in the 3rd quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock worth $57,909,000 after buying an additional 480,044 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Seattle Genetics by 5,032.1% in the 4th quarter. Millennium Management LLC now owns 334,921 shares of the biotechnology company’s stock worth $17,918,000 after buying an additional 328,395 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.
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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