Seattle Genetics, Inc. (NASDAQ:SGEN) – Stock analysts at Svb Leerink boosted their Q3 2019 earnings per share (EPS) estimates for Seattle Genetics in a research note issued to investors on Wednesday, July 17th. Svb Leerink analyst A. Berens now anticipates that the biotechnology company will post earnings per share of ($0.37) for the quarter, up from their prior estimate of ($0.41). Svb Leerink also issued estimates for Seattle Genetics’ FY2019 earnings at ($1.32) EPS, FY2020 earnings at ($0.70) EPS, FY2021 earnings at $0.87 EPS, FY2022 earnings at $2.34 EPS and FY2023 earnings at $3.90 EPS.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.10). Seattle Genetics had a negative return on equity of 17.16% and a negative net margin of 36.94%. The company had revenue of $218.45 million for the quarter, compared to analyst estimates of $189.76 million. During the same quarter last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis.

Several other brokerages have also recently issued reports on SGEN. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Seattle Genetics in a research note on Sunday, April 28th. William Blair reaffirmed a “buy” rating on shares of Seattle Genetics in a research note on Friday. Stifel Nicolaus assumed coverage on shares of Seattle Genetics in a research note on Wednesday, April 10th. They set a “hold” rating and a $70.00 price objective for the company. Piper Jaffray Companies dropped their price objective on shares of Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Deutsche Bank upped their price objective on shares of eBay from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Seattle Genetics presently has a consensus rating of “Buy” and a consensus target price of $84.08.

SGEN opened at $75.07 on Friday. Seattle Genetics has a twelve month low of $50.71 and a twelve month high of $84.37. The stock’s 50-day moving average is $69.00. The firm has a market cap of $12.39 billion, a P/E ratio of -45.50 and a beta of 2.05.

Institutional investors have recently bought and sold shares of the company. Spectrum Management Group Inc. purchased a new stake in shares of Seattle Genetics in the 1st quarter valued at approximately $34,000. Flagship Harbor Advisors LLC grew its stake in shares of Seattle Genetics by 112.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 660 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 350 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Seattle Genetics by 424.7% in the 1st quarter. Quadrant Capital Group LLC now owns 850 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 688 shares during the period. Twin Tree Management LP purchased a new stake in shares of Seattle Genetics in the 1st quarter valued at approximately $87,000. Finally, Advisor Group Inc. grew its stake in shares of Seattle Genetics by 20.8% in the 4th quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 232 shares during the period. 99.79% of the stock is owned by institutional investors and hedge funds.

In other news, insider Vaughn B. Himes sold 8,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $65.94, for a total value of $527,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clay B. Siegall sold 4,824 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $67.43, for a total transaction of $325,282.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,684 shares of company stock valued at $5,709,532. 33.80% of the stock is owned by corporate insiders.

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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