-$0.46 EPS Expected for Seattle Genetics, Inc. (SGEN) This Quarter

Analysts expect Seattle Genetics, Inc. (NASDAQ:SGEN) to announce earnings per share (EPS) of ($0.46) for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Seattle Genetics’ earnings. The lowest EPS estimate is ($0.55) and the highest is ($0.38). Seattle Genetics reported earnings of ($0.39) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 17.9%. The business is scheduled to issue its next quarterly earnings report after the market closes on Thursday, February 8th.

According to Zacks, analysts expect that Seattle Genetics will report full-year earnings of ($0.93) per share for the current year, with EPS estimates ranging from ($1.01) to ($0.84). For the next fiscal year, analysts forecast that the company will report earnings of ($1.34) per share, with EPS estimates ranging from ($1.76) to ($0.09). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Seattle Genetics.

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

SGEN has been the topic of a number of recent research reports. Jefferies Group reissued a “buy” rating and set a $53.00 price objective on shares of Seattle Genetics in a research note on Thursday, October 26th. Guggenheim reissued a “buy” rating and set a $72.00 price objective on shares of Seattle Genetics in a research note on Monday, October 23rd. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Seattle Genetics in a research note on Friday, October 27th. Zacks Investment Research raised Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, October 10th. Finally, TheStreet raised Seattle Genetics from a “d” rating to a “c” rating in a research note on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $63.76.

Seattle Genetics (NASDAQ:SGEN) traded up $0.03 during midday trading on Wednesday, reaching $53.48. The company’s stock had a trading volume of 1,287,841 shares, compared to its average volume of 722,693. The firm has a market capitalization of $7,692.97, a price-to-earnings ratio of -62.19 and a beta of 2.37. Seattle Genetics has a one year low of $45.31 and a one year high of $71.32.

In related news, CFO Todd E. Simpson sold 39,385 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $51.71, for a total value of $973,802.72. The disclosure for this sale can be found here. Insiders sold 157,210 shares of company stock worth $9,094,911 in the last 90 days. Company insiders own 34.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of SGEN. Schwab Charles Investment Management Inc. raised its holdings in shares of Seattle Genetics by 6.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 296,212 shares of the biotechnology company’s stock valued at $15,327,000 after buying an additional 17,130 shares during the period. Prudential Financial Inc. raised its holdings in shares of Seattle Genetics by 6.8% in the 2nd quarter. Prudential Financial Inc. now owns 6,291 shares of the biotechnology company’s stock valued at $325,000 after buying an additional 400 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Seattle Genetics in the 2nd quarter valued at $343,000. Alliancebernstein L.P. raised its holdings in shares of Seattle Genetics by 1.1% in the 2nd quarter. Alliancebernstein L.P. now owns 57,241 shares of the biotechnology company’s stock valued at $2,962,000 after buying an additional 603 shares during the period. Finally, Teachers Advisors LLC raised its holdings in shares of Seattle Genetics by 55.2% in the 2nd quarter. Teachers Advisors LLC now owns 554,091 shares of the biotechnology company’s stock valued at $28,669,000 after buying an additional 197,143 shares during the period. Hedge funds and other institutional investors own 98.89% 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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Earnings History and Estimates for Seattle Genetics (NASDAQ:SGEN)

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