Seattle Genetics (NASDAQ:SGEN) released its earnings results on Thursday. The biotechnology company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.36), RTT News reports. Seattle Genetics had a negative net margin of 26.58% and a negative return on equity of 19.13%. The business had revenue of $174.50 million for the quarter, compared to analyst estimates of $164.03 million. During the same period in the prior year, the company earned ($0.41) earnings per share. The firm’s revenue for the quarter was up 34.6% on a year-over-year basis. Seattle Genetics updated its FY 2019 guidance to EPS.
Shares of SGEN stock traded down $1.93 during trading hours on Thursday, reaching $73.75. 1,220,125 shares of the stock traded hands, compared to its average volume of 909,926. Seattle Genetics has a 1-year low of $47.75 and a 1-year high of $84.37. The firm has a market capitalization of $12.11 billion, a P/E ratio of -83.81 and a beta of 2.39.
In other news, insider Vaughn B. Himes sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $62.14, for a total transaction of $310,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Darren S. Cline sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $62.88, for a total transaction of $440,160.00. The disclosure for this sale can be found here. Insiders have sold 61,463 shares of company stock worth $3,840,215 in the last 90 days. 33.80% of the stock is owned by company insiders.
Several analysts recently commented on the stock. Piper Jaffray Companies cut their target price on shares of Seattle Genetics to $64.00 and set a “neutral” rating for the company in a research note on Thursday. BidaskClub raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. TheStreet lowered shares of Seattle Genetics from a “c” rating to a “d+” rating in a research note on Thursday, October 25th. Zacks Investment Research raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Wednesday, January 30th. Finally, Barclays cut their target price on shares of Seattle Genetics from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Seattle Genetics currently has a consensus rating of “Buy” and a consensus price target of $79.75.
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Seattle Genetics Company Profile
Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.
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