Equities research analysts forecast that Seattle Genetics, Inc. (NASDAQ:SGEN) will post sales of $163.23 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Seattle Genetics’ earnings. The lowest sales estimate is $154.50 million and the highest is $168.11 million. Seattle Genetics posted sales of $135.29 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.7%. The company is expected to issue its next quarterly earnings results on Thursday, October 25th.

On average, analysts expect that Seattle Genetics will report full-year sales of $645.48 million for the current year, with estimates ranging from $619.60 million to $656.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $832.20 million per share, with estimates ranging from $735.00 million to $894.38 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, July 26th. The biotechnology company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.81. The company had revenue of $170.20 million for the quarter, compared to analyst estimates of $141.07 million. Seattle Genetics had a negative return on equity of 21.01% and a negative net margin of 7.75%. The firm’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.39) earnings per share.

SGEN has been the topic of a number of research analyst reports. ValuEngine raised Seattle Genetics from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. SunTrust Banks raised Seattle Genetics from a “hold” rating to a “buy” rating and boosted their target price for the company from $60.00 to $80.00 in a research report on Monday, June 11th. BidaskClub raised Seattle Genetics from a “hold” rating to a “buy” rating in a research report on Friday, June 8th. HC Wainwright reissued a “buy” rating on shares of Seattle Genetics in a research report on Tuesday, June 5th. Finally, Zacks Investment Research raised Seattle Genetics from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Tuesday, July 3rd. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $71.64.

Shares of NASDAQ SGEN opened at $76.86 on Friday. The company has a market capitalization of $11.88 billion, a price-to-earnings ratio of -87.34 and a beta of 1.70. Seattle Genetics has a 52-week low of $47.75 and a 52-week high of $77.00.

In related news, CEO Clay B. Siegall sold 25,514 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $74.23, for a total transaction of $1,893,904.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Darren S. Cline sold 12,054 shares of the business’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $69.00, for a total transaction of $831,726.00. Following the transaction, the executive vice president now owns 72,723 shares of the company’s stock, valued at approximately $5,017,887. The disclosure for this sale can be found here. Insiders have sold 142,204 shares of company stock worth $10,176,553 in the last ninety days. Corporate insiders own 33.80% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Summit Trail Advisors LLC grew its stake in shares of Seattle Genetics by 4,871.9% during the first quarter. Summit Trail Advisors LLC now owns 107,344 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 105,185 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of Seattle Genetics during the first quarter worth $121,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of Seattle Genetics during the second quarter worth $139,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Seattle Genetics by 128.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,995 shares of the biotechnology company’s stock worth $209,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Rothschild Investment Corp IL acquired a new position in shares of Seattle Genetics during the second quarter worth $211,000.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

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