Cantor Fitzgerald Comments on Seattle Genetics, Inc.’s FY2017 Earnings (SGEN)
Seattle Genetics, Inc. (NASDAQ:SGEN) – Research analysts at Cantor Fitzgerald issued their FY2017 earnings per share estimates for shares of Seattle Genetics in a research note issued on Tuesday. Cantor Fitzgerald analyst M. Goldstein expects that the biotechnology company will post earnings per share of ($1.63) for the year. Cantor Fitzgerald currently has a “Hold” rating and a $43.00 price target on the stock. Cantor Fitzgerald also issued estimates for Seattle Genetics’ FY2018 earnings at ($1.67) EPS.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The firm had revenue of $108.20 million for the quarter, compared to the consensus estimate of $105.92 million. During the same period in the previous year, the firm posted ($0.23) EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis.
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A number of other equities research analysts have also recently commented on SGEN. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Seattle Genetics in a research report on Saturday, June 3rd. BidaskClub cut shares of Seattle Genetics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Cowen and Company set a $61.00 target price on shares of Seattle Genetics and gave the company a “hold” rating in a research report on Tuesday, June 6th. J P Morgan Chase & Co reiterated a “hold” rating and issued a $58.00 target price on shares of Seattle Genetics in a research report on Tuesday, June 13th. Finally, Barclays PLC restated a “hold” rating on shares of Seattle Genetics in a research report on Friday, June 23rd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Seattle Genetics presently has a consensus rating of “Hold” and an average price target of $62.07.
Seattle Genetics (NASDAQ:SGEN) opened at 48.72 on Thursday. Seattle Genetics has a 1-year low of $42.58 and a 1-year high of $75.36. The stock’s market capitalization is $6.97 billion. The company’s 50 day moving average is $53.13 and its 200-day moving average is $61.37.
In other Seattle Genetics news, CMO Jonathan G. Drachman sold 10,000 shares of Seattle Genetics stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $54.54, for a total transaction of $545,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Clay B. Siegall sold 10,423 shares of Seattle Genetics stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $65.21, for a total transaction of $679,683.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,259 shares of company stock valued at $3,211,411. Company insiders own 33.30% of the company’s stock.
Several large investors have recently made changes to their positions in SGEN. NBT Bank N A NY acquired a new position in Seattle Genetics during the first quarter valued at approximately $1,056,000. Nationwide Fund Advisors acquired a new position in Seattle Genetics during the first quarter valued at approximately $1,402,000. Candriam Luxembourg S.C.A. raised its position in Seattle Genetics by 37.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 99,500 shares of the biotechnology company’s stock valued at $6,255,000 after buying an additional 27,000 shares during the last quarter. Capital Impact Advisors LLC acquired a new position in Seattle Genetics during the first quarter valued at approximately $2,029,000. Finally, Addison Capital Co acquired a new position in Seattle Genetics during the first quarter valued at approximately $413,000. Institutional investors and hedge funds own 97.91% of the company’s stock.
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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