Brokers Set Expectations for Seattle Genetics, Inc.’s Q1 2018 Earnings (SGEN)

Seattle Genetics, Inc. (NASDAQ:SGEN) – Stock analysts at William Blair lowered their Q1 2018 earnings estimates for Seattle Genetics in a report issued on Wednesday. William Blair analyst A. Hsieh now anticipates that the biotechnology company will post earnings per share of ($0.44) for the quarter, down from their prior forecast of ($0.38). William Blair also issued estimates for Seattle Genetics’ Q2 2018 earnings at ($0.38) EPS, Q3 2018 earnings at ($0.30) EPS, Q4 2018 earnings at ($0.26) EPS, FY2018 earnings at ($1.38) EPS, FY2019 earnings at ($0.72) EPS and FY2020 earnings at $0.16 EPS.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The business had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 33.36%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday, October 31st. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Seattle Genetics in a research report on Friday, October 27th. Jefferies Group reiterated a “buy” rating and set a $53.00 price target on shares of Seattle Genetics in a research report on Thursday, October 26th. Guggenheim reiterated a “buy” rating and set a $72.00 price target on shares of Seattle Genetics in a research report on Monday, October 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $74.00 price target (up previously from $72.00) on shares of Seattle Genetics in a research report on Wednesday. One research 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 company. The stock has an average rating of “Hold” and a consensus price target of $64.56.

Shares of Seattle Genetics (NASDAQ:SGEN) opened at $50.14 on Friday. The stock has a market cap of $7,160.00, a P/E ratio of -56.34 and a beta of 2.08. Seattle Genetics has a 52-week low of $45.31 and a 52-week high of $71.32.

In other news, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $51.71, for a total transaction of $973,802.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Eric Dobmeier sold 35,000 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $58.25, for a total transaction of $2,038,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 98,993 shares of company stock valued at $5,603,714. 34.70% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of Seattle Genetics by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after acquiring an additional 299 shares during the last quarter. Prudential Financial Inc. raised its stake in Seattle Genetics by 6.8% during the second quarter. Prudential Financial Inc. now owns 6,291 shares of the biotechnology company’s stock worth $325,000 after buying an additional 400 shares during the last quarter. Eqis Capital Management Inc. raised its stake in Seattle Genetics by 3.6% during the fourth quarter. Eqis Capital Management Inc. now owns 26,087 shares of the biotechnology company’s stock worth $1,396,000 after buying an additional 916 shares during the last quarter. JGP Global Gestao de Recursos Ltda. raised its stake in Seattle Genetics by 4.9% during the third quarter. JGP Global Gestao de Recursos Ltda. now owns 20,603 shares of the biotechnology company’s stock worth $1,121,000 after buying an additional 969 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Seattle Genetics by 8.7% during the third quarter. Advisors Asset Management Inc. now owns 12,663 shares of the biotechnology company’s stock worth $689,000 after buying an additional 1,012 shares during the last quarter. 98.92% of the stock is owned by hedge funds and other institutional investors.

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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).

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

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