Equities research analysts predict that Seattle Genetics, Inc. (NASDAQ:SGEN) will post sales of $184.07 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Seattle Genetics’ earnings. The lowest sales estimate is $179.03 million and the highest is $192.02 million. Seattle Genetics posted sales of $140.59 million during the same quarter last year, which would indicate a positive year over year growth rate of 30.9%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, April 25th.

On average, analysts expect that Seattle Genetics will report full year sales of $818.07 million for the current fiscal year, with estimates ranging from $813.52 million to $822.12 million. For the next year, analysts forecast that the business will report sales of $1.03 billion, with estimates ranging from $943.90 million to $1.11 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.36). The firm had revenue of $174.50 million during the quarter, compared to the consensus estimate of $164.03 million. Seattle Genetics had a negative net margin of 34.01% and a negative return on equity of 19.33%. The business’s revenue was up 34.6% compared to the same quarter last year. During the same period last year, the business earned ($0.41) earnings per share.

A number of brokerages recently issued reports on SGEN. ValuEngine cut shares of Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. Berenberg Bank began coverage on shares of Seattle Genetics in a research note on Wednesday, March 27th. They issued a “buy” rating and a $95.00 price objective on the stock. Zacks Investment Research raised shares of Seattle Genetics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Piper Jaffray Companies reissued a “hold” rating on shares of Seattle Genetics in a research note on Thursday, March 28th. Finally, BidaskClub cut shares of Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $81.58.

Shares of NASDAQ:SGEN opened at $70.72 on Wednesday. The company has a market capitalization of $11.07 billion, a P/E ratio of -42.86 and a beta of 2.30. Seattle Genetics has a 1 year low of $47.75 and a 1 year high of $84.37.

In other Seattle Genetics news, insider Clay B. Siegall sold 20,148 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The shares were sold at an average price of $65.17, for a total value of $1,313,045.16. The sale 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 firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $68.72, for a total transaction of $549,760.00. The disclosure for this sale can be found here. Insiders sold 95,944 shares of company stock worth $6,945,020 in the last 90 days. Company insiders own 33.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in shares of Seattle Genetics by 1.8% during the third quarter. Bank of New York Mellon Corp now owns 467,228 shares of the biotechnology company’s stock worth $36,032,000 after purchasing an additional 8,451 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Seattle Genetics by 33.0% during the third quarter. Dimensional Fund Advisors LP now owns 235,004 shares of the biotechnology company’s stock worth $18,127,000 after purchasing an additional 58,258 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Seattle Genetics during the third quarter worth $313,000. Man Group plc lifted its holdings in shares of Seattle Genetics by 98.4% during the third quarter. Man Group plc now owns 16,814 shares of the biotechnology company’s stock worth $1,296,000 after purchasing an additional 8,338 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of Seattle Genetics during the third quarter worth $261,000.

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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