Seattle Genetics, Inc. (NASDAQ:SGEN) – Investment analysts at Oppenheimer Holdings issued their Q2 2017 earnings per share estimates for Seattle Genetics in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst L. Cann anticipates that the brokerage will earn ($0.39) per share for the quarter. Oppenheimer Holdings has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Seattle Genetics’ Q4 2017 earnings at ($0.57) EPS, FY2017 earnings at ($1.77) EPS, FY2018 earnings at ($1.31) EPS and FY2021 earnings at $1.20 EPS.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, February 9th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.05. The firm earned $105.30 million during the quarter, compared to analysts’ expectations of $106.49 million. Seattle Genetics had a negative net margin of 33.51% and a negative return on equity of 20.86%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) earnings per share.
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A number of other research analysts also recently weighed in on the company. CIBC assumed coverage on Seattle Genetics in a report on Thursday, March 16th. They issued a “market perform” rating on the stock. Cann assumed coverage on Seattle Genetics in a report on Wednesday, March 15th. They issued a “market perform” rating on the stock. Cantor Fitzgerald reissued a “hold” rating and issued a $43.00 target price on shares of Seattle Genetics in a report on Monday, March 6th. Bank of America Corp downgraded Seattle Genetics from a “neutral” rating to an “underperform” rating in a report on Thursday, February 16th. Finally, Credit Suisse Group AG increased their target price on Seattle Genetics from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, February 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $57.64.
Shares of Seattle Genetics (NASDAQ:SGEN) opened at 68.02 on Monday. The stock has a 50 day moving average of $64.32 and a 200-day moving average of $59.50. The firm’s market cap is $9.69 billion. Seattle Genetics has a 52 week low of $32.40 and a 52 week high of $75.36.
Several hedge funds and other institutional investors have recently bought and sold shares of SGEN. Baker BROS. Advisors LP bought a new position in Seattle Genetics during the third quarter valued at approximately $2,381,857,000. Norges Bank bought a new position in Seattle Genetics during the fourth quarter valued at approximately $57,470,000. State Street Corp increased its position in Seattle Genetics by 29.4% in the fourth quarter. State Street Corp now owns 2,566,041 shares of the company’s stock valued at $135,404,000 after buying an additional 582,978 shares during the period. Lagoda Investment Management L.P. bought a new position in Seattle Genetics during the third quarter valued at approximately $30,627,000. Finally, Redmile Group LLC increased its position in Seattle Genetics by 29.0% in the third quarter. Redmile Group LLC now owns 1,781,470 shares of the company’s stock valued at $96,217,000 after buying an additional 399,993 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Clay B. Siegall sold 14,465 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $61.54, for a total value of $890,176.10. Following the transaction, the insider now owns 640,477 shares of the company’s stock, valued at $39,414,954.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 43,395 shares of company stock worth $2,711,754 in the last ninety days. Corporate insiders own 33.30% of the company’s stock.
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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