Seattle Genetics, Inc. (NASDAQ:SGEN) – Stock analysts at Oppenheimer increased their FY2022 earnings per share estimates for shares of Seattle Genetics in a research note issued on Friday, June 26th. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will earn $2.00 per share for the year, up from their previous estimate of $1.88. Oppenheimer has a “Outperform” rating and a $200.00 price target on the stock.

Seattle Genetics (NASDAQ:SGEN) last posted its 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). The business had revenue of $234.51 million for the quarter, compared to analyst estimates of $207.59 million. Seattle Genetics had a negative return on equity of 16.51% and a negative net margin of 32.81%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share.

A number of other research analysts have also weighed in on the company. Stifel Nicolaus boosted their target price on Seattle Genetics from $120.00 to $127.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Morgan Stanley upped their price objective on Seattle Genetics from $111.00 to $149.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Needham & Company LLC upped their price objective on Seattle Genetics from $157.00 to $163.00 and gave the company a “buy” rating in a report on Friday, May 1st. Goldman Sachs Group raised Seattle Genetics from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, May 26th. Finally, BMO Capital Markets upped their price objective on Seattle Genetics from $139.00 to $154.00 and gave the company an “outperform” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $143.79.

SGEN stock opened at $164.37 on Monday. The firm has a market capitalization of $28.66 billion, a PE ratio of -87.43 and a beta of 1.42. Seattle Genetics has a 1-year low of $63.02 and a 1-year high of $175.64. The business’s 50 day simple moving average is $157.89 and its 200 day simple moving average is $127.73.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors acquired a new stake in Seattle Genetics in the first quarter valued at approximately $33,737,000. Nomura Asset Management Co. Ltd. grew its stake in Seattle Genetics by 18.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 21,469 shares of the biotechnology company’s stock valued at $2,453,000 after acquiring an additional 3,356 shares during the period. Mackenzie Financial Corp acquired a new stake in Seattle Genetics in the first quarter valued at approximately $379,000. Baird Financial Group Inc. grew its stake in Seattle Genetics by 2.5% in the first quarter. Baird Financial Group Inc. now owns 4,300 shares of the biotechnology company’s stock valued at $496,000 after acquiring an additional 103 shares during the period. Finally, US Bancorp DE grew its stake in Seattle Genetics by 52.9% in the first quarter. US Bancorp DE now owns 11,359 shares of the biotechnology company’s stock valued at $1,311,000 after acquiring an additional 3,932 shares during the period. 94.33% of the stock is owned by institutional investors and hedge funds.

In related news, Director Bros. Advisors Lp Baker sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $158.50, for a total transaction of $79,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc E. Lippman sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $152.03, for a total value of $152,030.00. Following the sale, the director now directly owns 48,668 shares of the company’s stock, valued at approximately $7,398,996.04. The disclosure for this sale can be found here. In the last three months, insiders sold 700,756 shares of company stock valued at $110,414,053. Insiders own 31.10% of the company’s stock.

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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