FY2021 EPS Estimates for Seattle Genetics, Inc. Boosted by Analyst (NASDAQ:SGEN)

Seattle Genetics, Inc. (NASDAQ:SGEN) – Analysts at Svb Leerink boosted their FY2021 earnings per share (EPS) estimates for Seattle Genetics in a research note issued on Tuesday, February 11th. Svb Leerink analyst A. Berens now forecasts that the biotechnology company will post earnings of ($1.99) per share for the year, up from their prior forecast of ($2.10). Svb Leerink also issued estimates for Seattle Genetics’ FY2022 earnings at $0.76 EPS, FY2023 earnings at $3.58 EPS and FY2024 earnings at $7.44 EPS.

Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, January 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Seattle Genetics in a research report on Friday, February 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Seattle Genetics in a research report on Tuesday. Guggenheim lowered Seattle Genetics from a “buy” rating to a “neutral” rating in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $113.00 target price on shares of Seattle Genetics in a research report on Monday, January 27th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $118.94.

SGEN traded up $0.08 on Friday, reaching $118.30. 10,583 shares of the company’s stock were exchanged, compared to its average volume of 993,563. The company’s 50 day moving average is $112.39 and its 200-day moving average is $97.37. The company has a market cap of $20.34 billion, a price-to-earnings ratio of -120.39 and a beta of 2.00. Seattle Genetics has a twelve month low of $62.90 and a twelve month high of $124.32.

Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, February 6th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.60. The firm had revenue of $289.80 million during the quarter, compared to the consensus estimate of $219.21 million. Seattle Genetics had a negative net margin of 17.31% and a negative return on equity of 13.99%. The company’s revenue was up 66.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.75) EPS.

In other news, CEO Lip Bu Tan sold 50,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $67.09, for a total value of $3,354,500.00. Also, Director Marc E. Lippman sold 35,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $115.80, for a total transaction of $4,053,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 207,916 shares of company stock worth $21,550,901 over the last quarter. 33.80% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. NEXT Financial Group Inc lifted its stake in Seattle Genetics by 333.3% in the third quarter. NEXT Financial Group Inc now owns 325 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 250 shares during the last quarter. Usca Ria LLC purchased a new position in shares of Seattle Genetics during the third quarter valued at approximately $34,000. Altshuler Shaham Ltd purchased a new position in shares of Seattle Genetics during the fourth quarter valued at approximately $39,000. Quadrant Capital Group LLC lifted its holdings in shares of Seattle Genetics by 215.4% during the third quarter. Quadrant Capital Group LLC now owns 511 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 349 shares during the last quarter. Finally, James Investment Research Inc. purchased a new position in shares of Seattle Genetics during the fourth quarter valued at approximately $71,000. Hedge funds and other institutional investors own 95.86% of the company’s stock.

Seattle Genetics Company Profile

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

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