Seattle Genetics, Inc. (NASDAQ:SGEN) Expected to Post Earnings of -$0.39 Per Share

Brokerages expect Seattle Genetics, Inc. (NASDAQ:SGEN) to report earnings of ($0.39) per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Seattle Genetics’ earnings. The highest EPS estimate is ($0.27) and the lowest is ($0.43). Seattle Genetics posted earnings of ($0.18) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 116.7%. The firm is scheduled to report its next earnings results on Thursday, July 25th.

According to Zacks, analysts expect that Seattle Genetics will report full-year earnings of ($1.13) per share for the current year, with EPS estimates ranging from ($1.31) to ($0.90). For the next fiscal year, analysts forecast that the company will post earnings of ($0.63) per share, with EPS estimates ranging from ($1.73) to $0.15. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, April 25th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.25. Seattle Genetics had a negative return on equity of 16.09% and a negative net margin of 17.52%. The business had revenue of $195.20 million during the quarter, compared to analysts’ expectations of $186.79 million. During the same period in the prior year, the firm posted ($0.73) EPS. Seattle Genetics’s quarterly revenue was up 38.8% compared to the same quarter last year.

A number of equities analysts have recently issued reports on SGEN shares. BidaskClub cut Seattle Genetics from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a report on Sunday, April 28th. William Blair reissued an “outperform” rating on shares of Seattle Genetics in a report on Monday, March 25th. Royal Bank of Canada increased their target price on Seattle Genetics from $89.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Finally, HC Wainwright reissued a “buy” rating on shares of Seattle Genetics in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $83.55.

Shares of SGEN traded down $0.46 during mid-day trading on Friday, reaching $68.50. The company had a trading volume of 686,400 shares, compared to its average volume of 830,157. Seattle Genetics has a twelve month low of $50.71 and a twelve month high of $84.37. The stock has a market cap of $11.01 billion, a PE ratio of -41.52 and a beta of 2.15.

In related news, insider Vaughn B. Himes sold 8,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $65.94, for a total transaction of $527,520.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Clay B. Siegall sold 20,148 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $79.22, for a total value of $1,596,124.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,768 shares of company stock worth $6,553,469. 33.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank boosted its position in Seattle Genetics by 4.3% in the 1st quarter. Comerica Bank now owns 3,801 shares of the biotechnology company’s stock valued at $308,000 after buying an additional 157 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Seattle Genetics by 1.1% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,738 shares of the biotechnology company’s stock valued at $1,153,000 after buying an additional 165 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Seattle Genetics by 0.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 62,280 shares of the biotechnology company’s stock valued at $4,561,000 after buying an additional 171 shares during the last quarter. M&T Bank Corp boosted its position in Seattle Genetics by 1.0% in the 4th quarter. M&T Bank Corp now owns 18,132 shares of the biotechnology company’s stock valued at $1,027,000 after buying an additional 188 shares during the last quarter. Finally, ETF Managers Group LLC boosted its position in Seattle Genetics by 7.7% in the 1st quarter. ETF Managers Group LLC now owns 2,733 shares of the biotechnology company’s stock valued at $200,000 after buying an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Seattle Genetics Company Profile

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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