Seattle Genetics, Inc. (NASDAQ:SGEN) – Analysts at Leerink Swann reduced their Q1 2018 earnings estimates for shares of Seattle Genetics in a research note issued to investors on Wednesday. Leerink Swann analyst M. Schmidt now forecasts that the biotechnology company will earn ($0.49) per share for the quarter, down from their prior estimate of ($0.46). Leerink Swann also issued estimates for Seattle Genetics’ Q2 2018 earnings at ($0.50) EPS, Q3 2018 earnings at ($0.49) EPS, Q4 2018 earnings at ($0.47) EPS, FY2018 earnings at ($1.95) EPS, FY2019 earnings at ($1.50) EPS and FY2020 earnings at ($0.72) EPS.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.02. The business had revenue of $129.61 million for the quarter, compared to the consensus estimate of $123.99 million. Seattle Genetics had a negative return on equity of 33.36% and a negative net margin of 26.03%. The business’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS.

Several other analysts also recently issued reports on the company. Bank of America cut their price target on Seattle Genetics from $70.00 to $68.00 and set a “neutral” rating on the stock in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $74.00 price target (up previously from $72.00) on shares of Seattle Genetics in a report on Wednesday. SunTrust Banks reissued a “hold” rating and issued a $60.00 price target on shares of Seattle Genetics in a report on Wednesday. HC Wainwright reissued a “buy” rating on shares of Seattle Genetics in a report on Wednesday. Finally, BidaskClub downgraded Seattle Genetics from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Seattle Genetics presently has an average rating of “Hold” and an average price target of $64.56.

Shares of Seattle Genetics (NASDAQ:SGEN) opened at $50.14 on Friday. The stock has a market capitalization of $7,160.00, a P/E ratio of -56.34 and a beta of 2.08. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $71.32.

In other Seattle Genetics news, Director Bros. Advisors Lp Baker bought 3,846,153 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were purchased at an average cost of $52.00 per share, for a total transaction of $199,999,956.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $51.71, for a total value of $973,802.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,993 shares of company stock worth $5,603,714. 34.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Capital Bank & Trust Co increased its position in shares of Seattle Genetics by 43.7% during the 3rd quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock valued at $45,406,000 after purchasing an additional 253,753 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Seattle Genetics by 6.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock valued at $2,080,000 after purchasing an additional 2,500 shares during the period. South Dakota Investment Council increased its position in shares of Seattle Genetics by 46.8% during the 3rd quarter. South Dakota Investment Council now owns 49,900 shares of the biotechnology company’s stock valued at $2,715,000 after purchasing an additional 15,900 shares during the period. Bristlecone Advisors LLC acquired a new position in shares of Seattle Genetics during the 3rd quarter valued at $180,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Seattle Genetics during the 3rd quarter valued at $291,000. Institutional investors own 98.92% of the company’s stock.

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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).

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

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