Seattle Genetics, Inc. (NASDAQ:SGEN) - Oppenheimer Holdings issued their Q3 2018 earnings estimates for shares of Seattle Genetics in a note issued to investors on Wednesday. Oppenheimer Holdings analyst L. Cann forecasts that the biotechnology company will earn ($0.25) per share for the quarter. Oppenheimer Holdings currently has a “Hold” rating on the stock.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The business had revenue of $108.20 million for the quarter, compared to the consensus estimate of $105.92 million. During the same period last year, the firm earned ($0.23) earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “Equities Analysts Issue Forecasts for Seattle Genetics, Inc.’s Q3 2018 Earnings (SGEN)” was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/08/19/equities-analysts-issue-forecasts-for-seattle-genetics-inc-s-q3-2018-earnings-sgen.html.
Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald set a $46.00 target price on shares of Seattle Genetics and gave the company a “hold” rating in a research note on Wednesday. BidaskClub cut shares of Seattle Genetics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Cowen and Company reiterated a “hold” rating and issued a $54.00 target price on shares of Seattle Genetics in a research note on Friday, July 28th. ValuEngine cut shares of Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $53.00 target price on shares of Seattle Genetics in a research note on Thursday, July 27th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.29.
Seattle Genetics (NASDAQ:SGEN) opened at 46.30 on Friday. The company’s market capitalization is $6.62 billion. The firm has a 50-day moving average of $50.86 and a 200 day moving average of $60.76. Seattle Genetics has a 52-week low of $42.58 and a 52-week high of $75.36.
Several large investors have recently added to or reduced their stakes in SGEN. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Seattle Genetics during the first quarter worth about $119,000. Tradewinds Capital Management LLC raised its stake in Seattle Genetics by 2.3% in the first quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock worth $147,000 after buying an additional 52 shares during the last quarter. First Manhattan Co. raised its stake in Seattle Genetics by 31.3% in the second quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after buying an additional 750 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Seattle Genetics by 562.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company’s stock worth $167,000 after buying an additional 2,250 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Seattle Genetics by 1,580.9% in the second quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock worth $205,000 after buying an additional 3,715 shares during the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Darren S. Cline sold 6,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $49.19, for a total transaction of $295,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clay B. Siegall sold 10,423 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $65.21, for a total transaction of $679,683.83. The disclosure for this sale can be found here. Insiders have sold 57,259 shares of company stock valued at $3,211,411 over the last 90 days. 33.30% of the stock is currently owned by company insiders.
Seattle Genetics Company Profile
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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