$254.27 Million in Sales Expected for Seattle Genetics, Inc. (NASDAQ:SGEN) This Quarter

Brokerages forecast that Seattle Genetics, Inc. (NASDAQ:SGEN) will announce sales of $254.27 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Seattle Genetics’ earnings. The highest sales estimate is $268.69 million and the lowest is $240.73 million. Seattle Genetics posted sales of $218.45 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.4%. The firm is expected to report its next earnings report on Tuesday, July 21st.

According to Zacks, analysts expect that Seattle Genetics will report full year sales of $1.08 billion for the current financial year, with estimates ranging from $1.03 billion to $1.13 billion. For the next financial year, analysts anticipate that the company will report sales of $1.55 billion, with estimates ranging from $1.39 billion to $1.73 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Seattle Genetics.

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

SGEN has been the subject of several research analyst reports. JPMorgan Chase & Co. restated a “buy” rating on shares of Seattle Genetics in a research note on Tuesday, February 11th. Goldman Sachs Group upped their price target on Seattle Genetics from $126.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Oppenheimer upped their target price on Seattle Genetics from $124.00 to $146.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. ValuEngine downgraded Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Royal Bank of Canada upped their target price on Seattle Genetics from $148.00 to $149.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. Seattle Genetics has a consensus rating of “Buy” and an average target price of $138.50.

NASDAQ:SGEN traded up $1.57 on Monday, hitting $155.77. 1,096,390 shares of the stock were exchanged, compared to its average volume of 1,495,662. The stock has a market cap of $26.69 billion, a PE ratio of -82.02 and a beta of 1.41. The stock has a fifty day moving average of $141.81 and a 200-day moving average of $119.84. Seattle Genetics has a fifty-two week low of $63.02 and a fifty-two week high of $168.10.

In other Seattle Genetics news, EVP Charles R. Romp sold 5,056 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $166.18, for a total transaction of $840,206.08. Following the transaction, the executive vice president now owns 54,575 shares of the company’s stock, valued at approximately $9,069,273.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Vaughn B. Himes sold 8,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $114.91, for a total value of $919,280.00. The disclosure for this sale can be found here. Insiders sold 691,733 shares of company stock valued at $107,475,576 in the last three months. 31.10% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. raised its position in shares of Seattle Genetics by 18.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 21,469 shares of the biotechnology company’s stock worth $2,453,000 after purchasing an additional 3,356 shares during the period. California Public Employees Retirement System raised its position in shares of Seattle Genetics by 32.2% during the 4th quarter. California Public Employees Retirement System now owns 263,222 shares of the biotechnology company’s stock worth $30,076,000 after purchasing an additional 64,062 shares during the period. Norges Bank acquired a new stake in shares of Seattle Genetics during the 4th quarter worth approximately $103,301,000. Jennison Associates LLC acquired a new stake in shares of Seattle Genetics during the 1st quarter worth approximately $15,489,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Seattle Genetics by 116.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,847 shares of the biotechnology company’s stock worth $1,239,000 after purchasing an additional 5,841 shares during the period. 95.11% of the stock is currently owned by institutional investors.

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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