Q3 2017 EPS Estimates for Seattle Genetics, Inc. (SGEN) Increased by Analyst

Seattle Genetics, Inc. (NASDAQ:SGEN) – Investment analysts at Oppenheimer Holdings upped their Q3 2017 earnings per share (EPS) estimates for Seattle Genetics in a report issued on Monday. Oppenheimer Holdings analyst L. Cann now anticipates that the biotechnology company will earn ($0.19) per share for the quarter, up from their prior forecast of ($0.42). Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Seattle Genetics’ Q4 2017 earnings at ($0.30) EPS, FY2017 earnings at ($1.30) EPS, FY2018 earnings at ($0.83) EPS, FY2019 earnings at ($0.06) EPS and FY2021 earnings at $0.83 EPS.

A number of other research firms have also weighed in on SGEN. Cantor Fitzgerald reaffirmed a “hold” rating and set a $43.00 target price on shares of Seattle Genetics in a report on Monday, March 6th. HC Wainwright upped their target price on shares of Seattle Genetics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Thursday, April 27th. Zacks Investment Research raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, CIBC began coverage on shares of Seattle Genetics in a report on Thursday, March 16th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $60.86.

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

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Shares of Seattle Genetics (NASDAQ:SGEN) opened at 61.74 on Thursday. Seattle Genetics has a 52-week low of $35.93 and a 52-week high of $75.36. The firm’s market cap is $8.81 billion. The company’s 50 day moving average is $63.99 and its 200 day moving average is $63.11.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, April 27th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.01. The firm had revenue of $109.10 million for the quarter, compared to analyst estimates of $103.23 million. Seattle Genetics had a negative return on equity of 27.98% and a negative net margin of 43.17%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.15) EPS.

In other news, insider Vaughn B. Himes sold 10,000 shares of the company’s stock in a transaction on Friday, March 31st. The shares were sold at an average price of $62.75, for a total value of $627,500.00. Following the completion of the sale, the insider now owns 161,283 shares of the company’s stock, valued at approximately $10,120,508.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clay B. Siegall sold 10,423 shares of the company’s stock in a transaction on 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. Insiders sold a total of 34,888 shares of company stock valued at $2,218,334 in the last ninety days. 33.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Seattle Genetics during the first quarter worth about $119,000. Tradewinds Capital Management LLC boosted its stake in shares of Seattle Genetics by 2.3% in the first quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock worth $147,000 after buying an additional 52 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Seattle Genetics by 562.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company’s stock worth $167,000 after buying an additional 2,250 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Seattle Genetics during the first quarter worth about $208,000. Finally, Miles Capital Inc. acquired a new stake in shares of Seattle Genetics during the first quarter worth about $226,000. 98.04% of the stock is owned by institutional investors.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SGEN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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