Seattle Genetics (NASDAQ:SGEN) Announces Quarterly Earnings Results
Seattle Genetics (NASDAQ:SGEN) announced its quarterly earnings data on Tuesday. The biotechnology company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10), RTT News reports. The company had revenue of $218.45 million for the quarter, compared to analysts’ expectations of $189.76 million. Seattle Genetics had a negative net margin of 17.52% and a negative return on equity of 16.09%. Seattle Genetics’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period last year, the firm earned $0.47 earnings per share. Seattle Genetics updated its FY 2019 guidance to EPS.
NASDAQ SGEN traded down $0.81 on Tuesday, reaching $63.18. 1,324,300 shares of the company’s stock traded hands, compared to its average volume of 838,509. The stock has a market cap of $10.29 billion, a price-to-earnings ratio of -38.29 and a beta of 2.06. The business has a 50 day moving average of $68.56. Seattle Genetics has a fifty-two week low of $50.71 and a fifty-two week high of $84.37.
SGEN has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Hudson Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. ValuEngine lowered shares of Welbilt from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Piper Jaffray Companies reissued a “hold” rating on shares of Seattle Genetics in a report on Thursday, March 28th. Stifel Nicolaus initiated coverage on shares of Seattle Genetics in a report on Wednesday, April 10th. They set a “hold” rating and a $70.00 price objective on the stock. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a report on Sunday, April 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $83.55.
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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