Seattle Genetics, Inc. (NASDAQ:SGEN) – Investment analysts at SunTrust Banks issued their Q1 2018 earnings per share estimates for Seattle Genetics in a report released on Wednesday. SunTrust Banks analyst Y. Suneja anticipates that the biotechnology company will earn ($0.41) per share for the quarter. SunTrust Banks has a “Hold” rating and a $60.00 price target on the stock. SunTrust Banks also issued estimates for Seattle Genetics’ Q2 2018 earnings at ($0.43) EPS, FY2021 earnings at $1.40 EPS and FY2022 earnings at $2.25 EPS.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 33.36%. The business had revenue of $129.61 million during the quarter, compared to the consensus estimate of $123.99 million. During the same quarter last year, the firm earned ($0.39) earnings per share. Seattle Genetics’s quarterly revenue was up 23.1% on a year-over-year basis.

A number of other equities analysts also recently weighed in on the stock. Bank of America lowered their target price on shares of Seattle Genetics from $70.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $74.00 target price (up previously from $72.00) on shares of Seattle Genetics in a research note on Wednesday. HC Wainwright reissued a “buy” rating on shares of Seattle Genetics in a research note on Wednesday. BidaskClub downgraded shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Seattle Genetics in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Seattle Genetics currently has a consensus rating of “Hold” and a consensus target price of $64.56.

Seattle Genetics (NASDAQ:SGEN) opened at $50.54 on Thursday. Seattle Genetics has a 52 week low of $45.31 and a 52 week high of $71.32. The firm has a market cap of $7,270.00, a price-to-earnings ratio of -56.79 and a beta of 2.08.

In other Seattle Genetics news, COO Eric Dobmeier sold 35,000 shares of Seattle Genetics stock in a transaction on Friday, November 17th. The shares were sold at an average price of $58.25, for a total value of $2,038,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vaughn B. Himes sold 10,000 shares of Seattle Genetics stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $59.97, for a total transaction of $599,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,993 shares of company stock valued at $5,603,714. Insiders own 34.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP grew its holdings in shares of Seattle Genetics by 116.5% during the third quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 1,428 shares during the last quarter. Bristlecone Advisors LLC acquired a new position in shares of Seattle Genetics during the third quarter valued at about $180,000. Virtu Financial LLC acquired a new position in shares of Seattle Genetics during the third quarter valued at about $203,000. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Seattle Genetics during the third quarter valued at about $208,000. Finally, Trexquant Investment LP acquired a new position in shares of Seattle Genetics during the third quarter valued at about $226,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

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About Seattle Genetics

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).

Earnings History and Estimates for Seattle Genetics (NASDAQ:SGEN)

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