Seattle Genetics (NASDAQ:SGEN) released its earnings results on Tuesday. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10), RTT News reports. Seattle Genetics had a negative net margin of 36.94% and a negative return on equity of 17.01%. The business had revenue of $218.45 million for the quarter, compared to analyst estimates of $189.76 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. Seattle Genetics updated its FY 2019 guidance to EPS.

Shares of SGEN opened at $75.17 on Thursday. The company has a market cap of $10.19 billion, a PE ratio of -45.56 and a beta of 2.05. Seattle Genetics has a twelve month low of $50.71 and a twelve month high of $84.37. The business’s 50 day simple moving average is $68.67.

In other news, insider Roger D. Dansey sold 5,416 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $68.60, for a total transaction of $371,537.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clay B. Siegall sold 4,824 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $67.43, for a total transaction of $325,282.32. The disclosure for this sale can be found here. Insiders have sold a total of 78,684 shares of company stock valued at $5,334,532 over the last ninety days. Company insiders own 33.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SGEN. Spectrum Management Group Inc. acquired a new stake in shares of Seattle Genetics in the 1st quarter valued at approximately $34,000. Flagship Harbor Advisors LLC boosted its holdings in shares of Seattle Genetics by 112.9% in the 1st quarter. Flagship Harbor Advisors LLC now owns 660 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 350 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Seattle Genetics by 167.4% in the 4th quarter. Captrust Financial Advisors now owns 893 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 559 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Seattle Genetics by 424.7% in the 1st quarter. Quadrant Capital Group LLC now owns 850 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 688 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings in shares of Seattle Genetics by 20.8% in the 4th quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 232 shares during the last quarter. 99.79% of the stock is owned by institutional investors.

SGEN has been the topic of a number of research reports. Deutsche Bank downgraded shares of Swedish Orphan Biovitrum AB (publ) from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus initiated coverage on shares of Seattle Genetics in a research report on Wednesday, April 10th. They set a “hold” rating and a $70.00 target price on the stock. Piper Jaffray Companies cut their target price on shares of Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday. BidaskClub downgraded shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 13th. Finally, Zacks Investment Research upgraded shares of Hudson Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $84.08.

About Seattle Genetics

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 for Seattle Genetics (NASDAQ:SGEN)

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