Wall Street analysts forecast that Seattle Genetics, Inc. (NASDAQ:SGEN) will post sales of $210.60 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Seattle Genetics’ earnings, with the lowest sales estimate coming in at $204.96 million and the highest estimate coming in at $220.26 million. Seattle Genetics posted sales of $169.42 million during the same quarter last year, which suggests a positive year over year growth rate of 24.3%. The firm is scheduled to report its next earnings report on Thursday, October 24th.

On average, analysts expect that Seattle Genetics will report full-year sales of $843.30 million for the current year, with estimates ranging from $835.35 million to $853.86 million. For the next financial year, analysts anticipate that the firm will post sales of $1.05 billion, with estimates ranging from $942.00 million to $1.12 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.10). The firm had revenue of $218.45 million for the quarter, compared to the consensus estimate of $189.76 million. Seattle Genetics had a negative net margin of 36.94% and a negative return on equity of 17.16%. The business’s revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share.

Several analysts have weighed in on the company. ValuEngine raised Seattle Genetics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 17th. Deutsche Bank initiated coverage on Seattle Genetics in a research report on Thursday, July 18th. They issued a “hold” rating and a $79.00 price target on the stock. BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a research report on Sunday, April 28th. Finally, Zacks Investment Research raised Seattle Genetics from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Seattle Genetics currently has a consensus rating of “Buy” and a consensus price target of $84.36.

In other Seattle Genetics news, insider Roger D. Dansey sold 5,416 shares of the business’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vaughn B. Himes sold 8,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $65.94, for a total transaction of $527,520.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,793 shares of company stock valued at $7,130,758. Company insiders own 33.80% of the company’s stock.

Several hedge funds have recently modified their holdings of SGEN. Treasurer of the State of North Carolina boosted its holdings in Seattle Genetics by 1.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 43,827 shares of the biotechnology company’s stock worth $3,033,000 after buying an additional 620 shares during the period. University of Notre Dame DU Lac boosted its holdings in Seattle Genetics by 48.9% in the 2nd quarter. University of Notre Dame DU Lac now owns 56,092 shares of the biotechnology company’s stock worth $3,882,000 after buying an additional 18,433 shares during the period. WealthStone Inc. bought a new position in Seattle Genetics in the 2nd quarter worth $452,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Seattle Genetics by 32.8% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,291 shares of the biotechnology company’s stock valued at $710,000 after purchasing an additional 2,543 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Seattle Genetics by 24.9% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 239,895 shares of the biotechnology company’s stock valued at $16,603,000 after purchasing an additional 47,766 shares during the last quarter. 98.23% of the stock is owned by hedge funds and other institutional investors.

Seattle Genetics stock traded down $2.07 during trading hours on Friday, hitting $76.29. 400,664 shares of the stock traded hands, compared to its average volume of 771,681. The firm’s 50-day moving average price is $73.84 and its two-hundred day moving average price is $71.52. The company has a market cap of $12.93 billion, a PE ratio of -46.24 and a beta of 2.04. Seattle Genetics has a one year low of $50.71 and a one year high of $84.37.

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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