Wall Street analysts expect that Seattle Genetics, Inc. (NASDAQ:SGEN) will report sales of $109.73 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Seattle Genetics’ earnings. The highest sales estimate is $127.40 million and the lowest is $98.25 million. Seattle Genetics posted sales of $105.28 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.2%. The firm is expected to issue its next earnings results on Thursday, February 8th.

On average, analysts expect that Seattle Genetics will report full year sales of $109.73 million for the current fiscal year, with estimates ranging from $450.89 million to $480.00 million. For the next fiscal year, analysts expect that the business will report sales of $581.87 million per share, with estimates ranging from $533.00 million to $711.53 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The firm had revenue of $135.29 million during the quarter, compared to the consensus estimate of $112.76 million. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. The business’s quarterly revenue was up 27.3% on a year-over-year basis.

SGEN has been the subject of several recent analyst reports. Cantor Fitzgerald set a $46.00 target price on shares of Seattle Genetics and gave the company a “hold” rating in a research note on Monday, October 2nd. SunTrust Banks reaffirmed a “hold” rating and issued a $45.00 target price on shares of Seattle Genetics in a research note on Wednesday, October 4th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $64.00 target price on shares of Seattle Genetics in a research note on Friday, October 6th. Zacks Investment Research raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, October 10th. Finally, Oppenheimer initiated coverage on shares of Seattle Genetics in a research note on Tuesday, October 10th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $63.76.

In other news, Director Marc E. Lippman sold 3,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $58.07, for a total transaction of $174,210.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $58.00, for a total transaction of $1,092,256.00. The disclosure for this sale can be found here. Insiders have sold 157,210 shares of company stock valued at $9,094,911 in the last three months. 34.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in Seattle Genetics by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 299 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Seattle Genetics by 6.8% during the second quarter. Prudential Financial Inc. now owns 6,291 shares of the biotechnology company’s stock worth $325,000 after purchasing an additional 400 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Seattle Genetics by 1.1% during the second quarter. Alliancebernstein L.P. now owns 57,241 shares of the biotechnology company’s stock worth $2,962,000 after purchasing an additional 603 shares during the last quarter. JGP Global Gestao de Recursos Ltda. boosted its holdings in Seattle Genetics by 4.9% during the third quarter. JGP Global Gestao de Recursos Ltda. now owns 20,603 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 969 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Seattle Genetics by 8.7% during the third quarter. Advisors Asset Management Inc. now owns 12,663 shares of the biotechnology company’s stock worth $689,000 after purchasing an additional 1,012 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

Shares of Seattle Genetics (SGEN) opened at $53.45 on Friday. Seattle Genetics has a 12 month low of $45.31 and a 12 month high of $71.32. The company has a market cap of $7,690.00, a P/E ratio of -61.44 and a beta of 2.37.

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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).

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

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