Equities Analysts Offer Predictions for Seattle Genetics, Inc.’s Q1 2020 Earnings (NASDAQ:SGEN)

Equities Analysts Offer Predictions for Seattle Genetics, Inc.’s Q1 2020 Earnings (NASDAQ:SGEN)

Seattle Genetics, Inc. (NASDAQ:SGEN) – Research analysts at Oppenheimer issued their Q1 2020 earnings per share (EPS) estimates for shares of Seattle Genetics in a research report issued to clients and investors on Thursday, December 12th, according to Zacks Investment Research. Oppenheimer analyst S. Tuerkcan anticipates that the biotechnology company will post earnings per share of ($0.50) for the quarter. Oppenheimer has a “Outperform” rating and a $124.00 price target on the stock. Oppenheimer also issued estimates for Seattle Genetics’ Q2 2020 earnings at ($0.39) EPS and Q3 2020 earnings at ($0.30) EPS.

Other equities research analysts have also issued research reports about the company. Leerink Swann upped their price target on Seattle Genetics from $102.00 to $120.00 and gave the company a “positive” rating in a research report on Tuesday, October 22nd. Deutsche Bank upped their price target on Seattle Genetics from $88.00 to $95.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their target price on Seattle Genetics from $80.00 to $109.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Cowen restated a “hold” rating and set a $100.00 target price on shares of Seattle Genetics in a research report on Sunday, December 22nd. Finally, BidaskClub lowered Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $112.56.

Shares of NASDAQ SGEN traded down $1.65 during trading on Friday, reaching $111.00. The company had a trading volume of 923,779 shares, compared to its average volume of 865,793. The company’s fifty day moving average price is $116.24 and its 200-day moving average price is $88.78. Seattle Genetics has a 12 month low of $60.00 and a 12 month high of $122.36. The stock has a market cap of $19.31 billion, a P/E ratio of -67.27 and a beta of 1.98.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.19). Seattle Genetics had a negative net margin of 37.97% and a negative return on equity of 19.17%. The company had revenue of $213.26 million during the quarter, compared to the consensus estimate of $211.85 million. During the same quarter last year, the firm posted ($0.42) EPS. The company’s quarterly revenue was up 25.9% on a year-over-year basis.

In other news, insider Vaughn B. Himes sold 8,000 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $117.16, for a total value of $937,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roger D. Dansey sold 2,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $114.07, for a total value of $228,140.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 207,916 shares of company stock worth $20,530,180. 33.80% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Seattle Genetics by 1.4% during the second quarter. Vanguard Group Inc. now owns 9,393,384 shares of the biotechnology company’s stock valued at $650,116,000 after purchasing an additional 132,318 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Seattle Genetics by 1.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,203,502 shares of the biotechnology company’s stock worth $567,764,000 after acquiring an additional 108,801 shares during the period. State Street Corp boosted its holdings in shares of Seattle Genetics by 3.9% in the third quarter. State Street Corp now owns 3,292,202 shares of the biotechnology company’s stock worth $281,154,000 after acquiring an additional 123,424 shares during the period. Capital Bank & Trust Co boosted its holdings in shares of Seattle Genetics by 1.0% in the second quarter. Capital Bank & Trust Co now owns 1,185,735 shares of the biotechnology company’s stock worth $81,899,000 after acquiring an additional 11,709 shares during the period. Finally, Waddell & Reed Financial Inc. boosted its holdings in shares of Seattle Genetics by 17.8% in the second quarter. Waddell & Reed Financial Inc. now owns 1,005,909 shares of the biotechnology company’s stock worth $69,619,000 after acquiring an additional 151,877 shares during the period. 95.83% of the stock is owned by hedge funds and other institutional investors.

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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