$109.73 Million in Sales Expected for Seattle Genetics, Inc. (SGEN) This Quarter

Equities analysts predict that Seattle Genetics, Inc. (NASDAQ:SGEN) will report $109.73 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Seattle Genetics’ earnings. The highest sales estimate is $127.40 million and the lowest is $98.25 million. Seattle Genetics posted sales of $105.28 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The business is expected to announce its next quarterly earnings report after the market closes on Tuesday, February 6th.

On average, analysts expect that Seattle Genetics will report full year sales of $109.73 million for the current fiscal year, with estimates ranging from $450.89 million to $480.00 million. For the next year, analysts expect that the company will post sales of $581.87 million per share, with estimates ranging from $533.00 million to $711.53 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Seattle Genetics.

SGEN has been the subject of a number of recent analyst reports. Cann initiated coverage on Seattle Genetics in a report on Wednesday, November 8th. They set a “hold” rating for the company. Oppenheimer restated a “hold” rating on shares of Seattle Genetics in a report on Thursday, December 7th. Guggenheim restated a “buy” rating and set a $72.00 price objective on shares of Seattle Genetics in a report on Monday, October 23rd. BidaskClub upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a report on Saturday, December 9th. Finally, TheStreet upgraded Seattle Genetics from a “d” rating to a “c” rating in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.76.

Seattle Genetics (SGEN) opened at $55.90 on Monday. Seattle Genetics has a 1-year low of $45.31 and a 1-year high of $71.32. The stock has a market capitalization of $8,050.00, a price-to-earnings ratio of -64.25 and a beta of 2.08.

In other Seattle Genetics news, insider Vaughn B. Himes sold 10,000 shares of Seattle Genetics stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction on Friday, November 10th. The shares were sold at an average price of $58.00, for a total value of $1,092,256.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,825 shares of company stock valued at $6,695,970. 34.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in shares of Seattle Genetics by 10.6% in the 4th quarter. US Bancorp DE now owns 15,797 shares of the biotechnology company’s stock worth $845,000 after acquiring an additional 1,517 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Seattle Genetics by 6.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,753 shares of the biotechnology company’s stock worth $1,324,000 after acquiring an additional 1,524 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of Seattle Genetics by 3.6% in the 4th quarter. Eqis Capital Management Inc. now owns 26,087 shares of the biotechnology company’s stock worth $1,396,000 after acquiring an additional 916 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Seattle Genetics in the 4th quarter worth $374,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Seattle Genetics by 6.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 323,051 shares of the biotechnology company’s stock worth $17,284,000 after acquiring an additional 18,490 shares in the last quarter. 98.91% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This story was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.com-unik.info/2018/02/05/109-73-million-in-sales-expected-for-seattle-genetics-inc-sgen-this-quarter-2.html.

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).

Get a free copy of the Zacks research report on Seattle Genetics (SGEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit