Seattle Genetics, Inc. (NASDAQ:SGEN) – Equities research analysts at Cantor Fitzgerald issued their FY2017 EPS estimates for Seattle Genetics in a report released on Tuesday. Cantor Fitzgerald analyst M. Goldstein expects that the biotechnology company will post earnings of ($1.63) per share for the year. Cantor Fitzgerald has a “Hold” rating and a $43.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Seattle Genetics’ FY2018 earnings at ($1.67) EPS.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.03. The firm had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS.
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SGEN has been the topic of several other research reports. Barclays PLC reiterated a “hold” rating on shares of Seattle Genetics in a report on Friday, June 23rd. BidaskClub downgraded shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. TheStreet downgraded shares of Seattle Genetics from a “c-” rating to a “d” rating in a research report on Tuesday, May 9th. Jefferies Group LLC reissued a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a research report on Thursday, July 27th. Finally, ValuEngine raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.07.
Seattle Genetics (NASDAQ SGEN) opened at 46.32 on Thursday. Seattle Genetics has a 12-month low of $42.58 and a 12-month high of $75.36. The company’s market cap is $6.63 billion. The firm’s 50-day moving average price is $52.15 and its 200-day moving average price is $61.17.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Seattle Genetics during the first quarter worth $119,000. Tradewinds Capital Management LLC boosted its position in 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 last quarter. Daiwa Securities Group Inc. boosted its position in 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 last quarter. First Manhattan Co. boosted its position in Seattle Genetics by 31.3% in the second quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after buying an additional 750 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new position in Seattle Genetics during the first quarter worth $208,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.
In other Seattle Genetics news, insider Clay B. Siegall sold 10,413 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $48.91, for a total value of $509,299.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Darren S. Cline sold 6,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $49.19, for a total transaction of $295,140.00. The disclosure for this sale can be found here. Insiders sold a total of 57,259 shares of company stock valued at $3,211,411 over the last ninety days. 33.30% of the stock is currently owned by insiders.
Seattle Genetics Company Profile
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).
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