$210.60 Million in Sales Expected for Seattle Genetics, Inc. (NASDAQ:SGEN) This Quarter

Equities research analysts expect Seattle Genetics, Inc. (NASDAQ:SGEN) to announce sales of $210.60 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Seattle Genetics’ earnings, with estimates ranging from $204.96 million to $220.26 million. Seattle Genetics reported sales of $169.42 million during the same quarter last year, which indicates a positive year over year growth rate of 24.3%. The firm is expected to report its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Seattle Genetics will report full-year sales of $843.30 million for the current financial year, with estimates ranging from $835.35 million to $853.86 million. For the next year, analysts expect that the business will post sales of $1.05 billion, with estimates ranging from $942.00 million to $1.12 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.10). Seattle Genetics had a negative return on equity of 17.16% and a negative net margin of 36.94%. The business had revenue of $218.45 million during the quarter, compared to analyst estimates of $189.76 million. During the same period last year, the company earned $0.47 EPS. The business’s revenue for the quarter was up 28.4% on a year-over-year basis.

Several analysts have recently weighed in on SGEN shares. HC Wainwright reaffirmed a “buy” rating on shares of Seattle Genetics in a report on Friday, April 26th. Deutsche Bank assumed coverage on shares of Seattle Genetics in a research note on Thursday, July 18th. They set a “hold” rating and a $79.00 price target on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a research note on Sunday, April 28th. Zacks Investment Research raised shares of Seattle Genetics from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research note on Wednesday, May 29th. Finally, ValuEngine raised shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Seattle Genetics presently has a consensus rating of “Buy” and a consensus target price of $84.36.

NASDAQ:SGEN traded down $1.61 during mid-day trading on Friday, hitting $78.36. The company’s stock had a trading volume of 430,799 shares, compared to its average volume of 909,863. Seattle Genetics has a fifty-two week low of $50.71 and a fifty-two week high of $84.37. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of -47.49 and a beta of 2.04. The stock has a fifty day moving average of $73.54 and a 200-day moving average of $71.51.

In other Seattle Genetics news, insider Vaughn B. Himes sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $65.94, for a total value of $527,520.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Clay B. Siegall sold 20,148 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $69.05, for a total transaction of $1,391,219.40. The disclosure for this sale can be found here. Insiders have sold 82,577 shares of company stock worth $5,833,478 over the last three months. 33.80% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. University of Notre Dame DU Lac boosted its holdings in shares of Seattle Genetics by 48.9% during the 2nd quarter. University of Notre Dame DU Lac now owns 56,092 shares of the biotechnology company’s stock worth $3,882,000 after buying an additional 18,433 shares during the period. WealthStone Inc. bought a new stake in shares of Seattle Genetics during the 2nd quarter worth about $452,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Seattle Genetics by 32.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,291 shares of the biotechnology company’s stock worth $710,000 after buying an additional 2,543 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Seattle Genetics by 24.9% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 239,895 shares of the biotechnology company’s stock worth $16,603,000 after buying an additional 47,766 shares during the period. Finally, Waddell & Reed Financial Inc. boosted its holdings in shares of Seattle Genetics by 17.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,005,909 shares of the biotechnology company’s stock worth $69,619,000 after buying an additional 151,877 shares during the period. 98.23% of the stock is currently owned by hedge funds and other institutional investors.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

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