Zacks: Brokerages Expect Seattle Genetics, Inc. (NASDAQ:SGEN) to Post -$0.64 EPS

Equities analysts expect Seattle Genetics, Inc. (NASDAQ:SGEN) to announce ($0.64) earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Seattle Genetics’ earnings, with the lowest EPS estimate coming in at ($0.96) and the highest estimate coming in at ($0.29). Seattle Genetics reported earnings of ($0.24) per share during the same quarter last year, which would indicate a negative year over year growth rate of 166.7%. The firm is expected to announce its next quarterly earnings results on Tuesday, July 21st.

On average, analysts expect that Seattle Genetics will report full year earnings of ($3.06) per share for the current financial year, with EPS estimates ranging from ($3.33) to ($2.83). For the next year, analysts expect that the company will report earnings of ($0.81) per share, with EPS estimates ranging from ($2.33) to $0.53. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.17). Seattle Genetics had a negative net margin of 32.81% and a negative return on equity of 16.51%. The company had revenue of $234.51 million during the quarter, compared to the consensus estimate of $207.59 million. During the same quarter last year, the company earned ($0.08) earnings per share. The business’s revenue was up 20.1% on a year-over-year basis.

Several analysts have recently commented on the company. Morgan Stanley increased their target price on Seattle Genetics from $111.00 to $149.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Goldman Sachs Group increased their target price on Seattle Genetics from $126.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. restated a “buy” rating on shares of Seattle Genetics in a report on Tuesday, February 11th. BidaskClub cut Seattle Genetics from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, HC Wainwright increased their target price on Seattle Genetics from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $138.50.

Shares of SGEN stock traded up $1.57 during trading hours on Friday, hitting $155.77. 1,096,390 shares of the company’s stock were exchanged, compared to its average volume of 1,495,662. The stock’s 50-day moving average is $141.81 and its 200-day moving average is $119.84. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of -82.02 and a beta of 1.41. Seattle Genetics has a 52 week low of $63.02 and a 52 week high of $168.10.

In other news, CEO Clay B. Siegall sold 24,598 shares of Seattle Genetics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $166.08, for a total value of $4,085,235.84. Following the transaction, the chief executive officer now owns 761,170 shares in the company, valued at $126,415,113.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Clay B. Siegall sold 28,472 shares of Seattle Genetics stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $110.09, for a total value of $3,134,482.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 691,733 shares of company stock valued at $107,475,576. 31.10% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. bought a new stake in Seattle Genetics during the 4th quarter valued at approximately $4,456,000. Synovus Financial Corp boosted its position in Seattle Genetics by 206.5% during the 1st quarter. Synovus Financial Corp now owns 331 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 223 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in Seattle Genetics during the 4th quarter valued at approximately $39,000. Exchange Traded Concepts LLC boosted its position in Seattle Genetics by 387.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 458 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 364 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Seattle Genetics by 66.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 500 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 200 shares in the last quarter. 95.11% of the stock is currently owned by institutional investors and hedge funds.

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

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