Seattle Genetics, Inc. (SGEN) Expected to Earn Q1 2019 Earnings of ($0.31) Per Share
Seattle Genetics, Inc. (NASDAQ:SGEN) – Stock analysts at William Blair issued their Q1 2019 EPS estimates for Seattle Genetics in a note issued to investors on Wednesday. William Blair analyst A. Hsieh forecasts that the biotechnology company will post earnings per share of ($0.31) for the quarter. William Blair also issued estimates for Seattle Genetics’ Q2 2019 earnings at ($0.21) EPS, Q3 2019 earnings at ($0.14) EPS and Q4 2019 earnings at ($0.07) EPS.
A number of other research firms have also weighed in on SGEN. Jefferies Group reiterated a “buy” rating and issued a $53.00 price objective on shares of Seattle Genetics in a research note on Thursday, October 26th. Cantor Fitzgerald set a $50.00 price objective on shares of Seattle Genetics and gave the stock a “hold” rating in a research note on Monday, January 8th. Morgan Stanley increased their price objective on shares of Seattle Genetics from $64.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 31st. Royal Bank of Canada increased their price objective on shares of Seattle Genetics from $68.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 13th. Finally, HC Wainwright reiterated a “buy” rating on shares of Seattle Genetics in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $64.56.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. The firm had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 33.36%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.39) earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in SGEN. Quantbot Technologies LP grew its position in shares of Seattle Genetics by 116.5% in the third quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock valued at $144,000 after purchasing an additional 1,428 shares during the period. Bristlecone Advisors LLC purchased a new position in shares of Seattle Genetics in the third quarter worth about $180,000. Virtu Financial LLC purchased a new position in shares of Seattle Genetics in the third quarter worth about $203,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Seattle Genetics in the third quarter worth about $208,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Seattle Genetics by 6,835.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the biotechnology company’s stock worth $223,000 after buying an additional 4,238 shares in the last quarter. Institutional investors and hedge funds own 98.92% of the company’s stock.
In related news, Director Bros. Advisors Lp Baker bought 3,846,153 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were acquired at an average price of $52.00 per share, for a total transaction of $199,999,956.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Eric Dobmeier sold 35,000 shares of Seattle Genetics stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $58.25, for a total transaction of $2,038,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,993 shares of company stock worth $5,603,714. Company insiders own 34.70% of the company’s stock.
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Seattle Genetics Company Profile
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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