Seattle Genetics (NASDAQ:SGEN) issued its earnings results on Thursday. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.46, MarketWatch Earnings reports. Seattle Genetics had a negative return on equity of 18.34% and a negative net margin of 25.17%. The firm had revenue of $278.00 million for the quarter, compared to the consensus estimate of $256.74 million. Seattle Genetics updated its FY 2020
After-Hours guidance to EPS.

NASDAQ:SGEN traded down $4.87 during mid-day trading on Friday, hitting $166.27. 2,346,344 shares of the company’s stock traded hands, compared to its average volume of 976,297. The firm has a 50 day moving average of $169.28 and a two-hundred day moving average of $137.30. Seattle Genetics has a 12 month low of $65.44 and a 12 month high of $187.99. The firm has a market capitalization of $28.78 billion, a price-to-earnings ratio of -110.11 and a beta of 1.46.

In other Seattle Genetics news, CEO Clay B. Siegall sold 24,598 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $166.08, for a total value of $4,085,235.84. Following the completion of the transaction, the chief executive officer now owns 761,170 shares of the company’s stock, valued at approximately $126,415,113.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Todd E. Simpson sold 26,867 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $162.94, for a total value of $4,377,708.98. Following the completion of the transaction, the chief financial officer now directly owns 175,863 shares of the company’s stock, valued at approximately $28,655,117.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 721,041 shares of company stock valued at $115,476,023. 31.10% of the stock is owned by corporate insiders.

A number of brokerages have commented on SGEN. Needham & Company LLC boosted their target price on Seattle Genetics from $163.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Zacks Investment Research downgraded Seattle Genetics from a “buy” rating to a “hold” rating and set a $132.00 target price on the stock. in a research note on Wednesday, April 15th. BidaskClub downgraded Seattle Genetics from a “buy” rating to a “hold” rating in a research note on Saturday. Goldman Sachs Group upgraded Seattle Genetics from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, May 26th. Finally, HC Wainwright reiterated a “buy” rating and set a $200.00 price target (up previously from $175.00) on shares of Seattle Genetics in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Seattle Genetics presently has a consensus rating of “Buy” and a consensus price target of $150.16.

Seattle Genetics Company Profile

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.

See Also: Fiduciary

Earnings History for Seattle Genetics (NASDAQ:SGEN)

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