Analysts expect Seattle Genetics, Inc. (NASDAQ:SGEN) to announce $184.92 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Seattle Genetics’ earnings, with estimates ranging from $179.03 million to $192.02 million. Seattle Genetics reported sales of $140.59 million during the same quarter last year, which indicates a positive year over year growth rate of 31.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, April 25th.
According to Zacks, analysts expect that Seattle Genetics will report full-year sales of $818.83 million for the current financial year, with estimates ranging from $816.00 million to $822.12 million. For the next fiscal year, analysts forecast that the business will report sales of $1.03 billion, with estimates ranging from $944.00 million to $1.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Seattle Genetics.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.36). The company had revenue of $174.50 million for the quarter, compared to analyst estimates of $164.03 million. Seattle Genetics had a negative return on equity of 19.33% and a negative net margin of 34.01%. The business’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period last year, the company earned ($0.41) earnings per share.
NASDAQ:SGEN traded up $1.02 during trading hours on Friday, hitting $74.62. The stock had a trading volume of 994,987 shares, compared to its average volume of 833,364. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of -45.22 and a beta of 2.32. Seattle Genetics has a 1-year low of $47.75 and a 1-year high of $84.37.
In related news, CFO Todd E. Simpson sold 10,000 shares of Seattle Genetics stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vaughn B. Himes sold 8,000 shares of Seattle Genetics stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $68.72, for a total value of $549,760.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,444 shares of company stock worth $5,656,373. 33.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. purchased a new position in Seattle Genetics in the 4th quarter worth about $44,729,000. Geode Capital Management LLC increased its stake in Seattle Genetics by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 1,116,057 shares of the biotechnology company’s stock worth $63,196,000 after purchasing an additional 69,251 shares in the last quarter. Norges Bank purchased a new position in Seattle Genetics in the 4th quarter worth about $44,082,000. Teacher Retirement System of Texas increased its stake in Seattle Genetics by 22.2% in the 4th quarter. Teacher Retirement System of Texas now owns 15,940 shares of the biotechnology company’s stock worth $903,000 after purchasing an additional 2,898 shares in the last quarter. Finally, CWM Advisors LLC purchased a new position in Seattle Genetics in the 4th quarter worth about $265,000.
About Seattle Genetics
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.
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