Seattle Genetics, Inc. (NASDAQ:SGEN) – Research analysts at Oppenheimer Holdings issued their Q3 2018 earnings per share estimates for Seattle Genetics in a report issued on Wednesday. Oppenheimer Holdings analyst L. Cann anticipates that the biotechnology company will post earnings per share of ($0.25) for the quarter. Oppenheimer Holdings has a “Hold” rating on the stock.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The business had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $105.92 million. During the same period in the previous year, the firm earned ($0.23) earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. TRADEMARK VIOLATION WARNING: This piece of content was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece of content on another site, it was stolen and reposted in violation of US & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://sportsperspectives.com/2017/08/18/q3-2018-earnings-forecast-for-seattle-genetics-inc-issued-by-oppenheimer-holdings-sgen.html.
A number of other equities analysts also recently issued reports on the company. TheStreet downgraded Seattle Genetics from a “c-” rating to a “d” rating in a research note on Tuesday, May 9th. Zacks Investment Research upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. HC Wainwright lifted their price target on Seattle Genetics from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Cantor Fitzgerald reiterated a “hold” rating and set a $43.00 price target on shares of Seattle Genetics in a research note on Monday, June 26th. Finally, ValuEngine downgraded Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Seattle Genetics presently has an average rating of “Hold” and a consensus price target of $62.29.
Seattle Genetics (NASDAQ:SGEN) traded up 1.0354% on Friday, reaching $46.8501. The company’s stock had a trading volume of 136,995 shares. Seattle Genetics has a 52-week low of $42.58 and a 52-week high of $75.36. The firm’s 50-day moving average price is $51.06 and its 200-day moving average price is $60.84. The stock’s market cap is $6.70 billion.
In related news, insider Clay B. Siegall sold 10,423 shares of Seattle Genetics stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $65.21, for a total value of $679,683.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Jonathan G. Drachman sold 10,000 shares of Seattle Genetics stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $64.01, for a total transaction of $640,100.00. Following the completion of the sale, the chief marketing officer now directly owns 125,204 shares in the company, valued at approximately $8,014,308.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,259 shares of company stock worth $3,211,411. Insiders own 33.30% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Seattle Genetics by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 205,842 shares of the biotechnology company’s stock worth $10,863,000 after buying an additional 2,586 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Seattle Genetics by 124.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 188,705 shares of the biotechnology company’s stock worth $9,959,000 after buying an additional 104,557 shares during the period. Teachers Advisors LLC boosted its stake in Seattle Genetics by 249.2% in the fourth quarter. Teachers Advisors LLC now owns 287,808 shares of the biotechnology company’s stock worth $15,188,000 after buying an additional 205,380 shares during the period. Gulf International Bank UK Ltd boosted its stake in Seattle Genetics by 0.8% in the first quarter. Gulf International Bank UK Ltd now owns 31,050 shares of the biotechnology company’s stock worth $1,951,000 after buying an additional 250 shares during the period. Finally, Bank of Montreal Can boosted its stake in Seattle Genetics by 280.2% in the first quarter. Bank of Montreal Can now owns 7,235 shares of the biotechnology company’s stock worth $454,000 after buying an additional 5,332 shares during the period. 98.21% of the stock is currently owned by institutional investors.
About Seattle Genetics
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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