Brokerages Anticipate Seattle Genetics (SGEN) Will Announce Quarterly Sales of $119.58 Million

Equities analysts expect Seattle Genetics (NASDAQ:SGEN) to report sales of $119.58 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Seattle Genetics’ earnings. The lowest sales estimate is $112.00 million and the highest is $127.00 million. Seattle Genetics posted sales of $109.13 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, April 26th.

According to Zacks, analysts expect that Seattle Genetics will report full year sales of $519.54 million for the current year, with estimates ranging from $488.58 million to $566.10 million. For the next financial year, analysts forecast that the company will post sales of $712.45 million per share, with estimates ranging from $575.00 million to $821.24 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Seattle Genetics.

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Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The company had revenue of $129.61 million for the quarter, compared to analysts’ expectations of $123.99 million. During the same period in the prior year, the firm earned ($0.39) earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year.

A number of analysts have recently weighed in on the company. BidaskClub lowered Seattle Genetics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 4th. Morgan Stanley cut their price objective on Seattle Genetics from $69.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 21st. Cantor Fitzgerald set a $50.00 price objective on Seattle Genetics and gave the stock a “hold” rating in a research report on Tuesday, March 20th. Royal Bank of Canada reaffirmed a “buy” rating and set a $73.00 price objective on shares of Seattle Genetics in a research report on Tuesday, March 20th. Finally, Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a research report on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.00.

In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.75, for a total value of $936,892.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vaughn B. Himes sold 5,000 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $58.12, for a total transaction of $290,600.00. The disclosure for this sale can be found here. Insiders sold 71,953 shares of company stock worth $3,810,778 in the last three months. 33.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Seattle Genetics by 2.9% in the fourth quarter. BlackRock Inc. now owns 7,756,494 shares of the biotechnology company’s stock valued at $414,975,000 after acquiring an additional 220,955 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Seattle Genetics by 92.1% during the fourth 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 period. Geode Capital Management LLC boosted its stake in shares of Seattle Genetics by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 862,272 shares of the biotechnology company’s stock worth $46,104,000 after buying an additional 5,765 shares during the period. UBS Asset Management Americas Inc. boosted its stake in shares of Seattle Genetics by 31.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 726,083 shares of the biotechnology company’s stock worth $38,845,000 after buying an additional 172,224 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of Seattle Genetics by 5.5% during the fourth quarter. Teachers Advisors LLC now owns 585,074 shares of the biotechnology company’s stock worth $31,301,000 after buying an additional 30,522 shares during the period. Institutional investors own 92.99% of the company’s stock.

NASDAQ:SGEN traded up $1.21 during trading hours on Friday, reaching $51.53. 118,045 shares of the stock were exchanged, compared to its average volume of 1,097,302. Seattle Genetics has a twelve month low of $45.31 and a twelve month high of $71.32. The stock has a market capitalization of $7,945.95, a price-to-earnings ratio of -58.61 and a beta of 1.84.

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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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Earnings History and Estimates for Seattle Genetics (NASDAQ:SGEN)

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