Analysts Offer Predictions for Seattle Genetics, Inc.’s FY2022 Earnings (SGEN)
Seattle Genetics, Inc. (NASDAQ:SGEN) – Stock analysts at SunTrust Banks issued their FY2022 earnings per share estimates for shares of Seattle Genetics in a research report issued to clients and investors on Friday. SunTrust Banks analyst Y. Suneja forecasts that the biotechnology company will post earnings per share of $2.55 for the year. SunTrust Banks currently has a “Hold” rating and a $52.00 target price on the stock.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The business had revenue of $135.29 million for the quarter, compared to analysts’ expectations of $112.76 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. The business’s revenue was up 27.3% compared to the same quarter last year.
Seattle Genetics (SGEN) traded up $0.03 during mid-day trading on Monday, reaching $53.48. 1,287,800 shares of the company’s stock were exchanged, compared to its average volume of 988,215. Seattle Genetics has a fifty-two week low of $45.31 and a fifty-two week high of $71.32. The company has a market capitalization of $8,000.00, a PE ratio of -61.47 and a beta of 2.37.
In related news, CFO Todd E. Simpson sold 39,385 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $60.91, for a total value of $2,398,940.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $58.00, for a total transaction of $1,092,256.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,210 shares of company stock valued at $9,094,911. 34.70% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its holdings in Seattle Genetics by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 299 shares in the last quarter. Prudential Financial Inc. raised its holdings in Seattle Genetics by 6.8% in the second quarter. Prudential Financial Inc. now owns 6,291 shares of the biotechnology company’s stock worth $325,000 after purchasing an additional 400 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Seattle Genetics by 1.1% in the second quarter. Alliancebernstein L.P. now owns 57,241 shares of the biotechnology company’s stock worth $2,962,000 after purchasing an additional 603 shares in the last quarter. JGP Global Gestao de Recursos Ltda. raised its holdings in Seattle Genetics by 4.9% in 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 purchasing an additional 969 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Seattle Genetics by 8.7% in the third quarter. Advisors Asset Management Inc. now owns 12,663 shares of the biotechnology company’s stock worth $689,000 after purchasing an additional 1,012 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.
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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).
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