Wall Street brokerages expect that Seattle Genetics, Inc. (NASDAQ:SGEN) will post $164.79 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Seattle Genetics’ earnings. The lowest sales estimate is $161.00 million and the highest is $166.89 million. Seattle Genetics posted sales of $129.61 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.1%. The company is expected to issue its next earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Seattle Genetics will report full-year sales of $644.87 million for the current fiscal year, with estimates ranging from $641.00 million to $647.08 million. For the next year, analysts anticipate that the company will post sales of $826.02 million, with estimates ranging from $750.00 million to $927.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Seattle Genetics.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, October 25th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.15). The business had revenue of $169.42 million for the quarter, compared to analyst estimates of $164.75 million. Seattle Genetics had a negative return on equity of 19.13% and a negative net margin of 26.58%.

SGEN has been the subject of a number of analyst reports. SunTrust Banks set a $81.00 price objective on shares of Seattle Genetics and gave the company a “buy” rating in a research report on Friday, July 27th. Barclays reissued a “buy” rating and issued a $80.00 price objective on shares of Seattle Genetics in a research report on Friday, July 27th. Royal Bank of Canada reissued a “buy” rating and issued a $75.00 price objective on shares of Seattle Genetics in a research report on Friday, July 27th. HC Wainwright reissued a “buy” rating and issued a $98.00 price objective (up previously from $77.00) on shares of Seattle Genetics in a research report on Friday, July 27th. Finally, Zacks Investment Research raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Seattle Genetics presently has an average rating of “Buy” and an average price target of $77.77.

In related news, insider Vaughn B. Himes sold 5,530 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $74.23, for a total transaction of $410,491.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clay B. Siegall sold 20,148 shares of the company’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $61.54, for a total transaction of $1,239,907.92. The disclosure for this sale can be found here. Insiders have sold 106,699 shares of company stock valued at $7,794,643 in the last ninety days. 33.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Baker BROS. Advisors LP increased its position in Seattle Genetics by 3.0% during the second quarter. Baker BROS. Advisors LP now owns 51,046,060 shares of the biotechnology company’s stock worth $3,388,948,000 after purchasing an additional 1,470,651 shares during the last quarter. Capital International Investors increased its position in Seattle Genetics by 53.6% during the third quarter. Capital International Investors now owns 9,414,375 shares of the biotechnology company’s stock worth $726,037,000 after purchasing an additional 3,285,237 shares during the last quarter. BlackRock Inc. increased its position in Seattle Genetics by 1.3% during the third quarter. BlackRock Inc. now owns 9,042,238 shares of the biotechnology company’s stock worth $697,336,000 after purchasing an additional 113,573 shares during the last quarter. First Trust Advisors LP increased its position in Seattle Genetics by 70.7% during the third quarter. First Trust Advisors LP now owns 1,779,195 shares of the biotechnology company’s stock worth $137,212,000 after purchasing an additional 736,621 shares during the last quarter. Finally, Capital Guardian Trust Co. increased its position in Seattle Genetics by 1.6% during the third quarter. Capital Guardian Trust Co. now owns 1,338,651 shares of the biotechnology company’s stock worth $103,237,000 after purchasing an additional 21,248 shares during the last quarter.

Shares of NASDAQ:SGEN traded down $0.87 during trading on Thursday, reaching $56.19. The stock had a trading volume of 1,144,000 shares, compared to its average volume of 1,010,334. The firm has a market cap of $9.20 billion, a PE ratio of -63.85 and a beta of 2.18. Seattle Genetics has a fifty-two week low of $47.75 and a fifty-two week high of $84.37.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

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

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