Seattle Genetics (SGEN) reported quarterly earnings results on Thursday, Apr-28-2016. The company reported $-0.15 earnings per share for the quarter, missing the analyst consensus estimate by $-0.04. Analysts had a consensus of $-0.11. The company posted revenue of $111.15 million in the period, compared to analysts expectations of $115.99 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.17 EPS.
Many Wall Street Analysts have commented on Seattle Genetics. Sun Trust Rbsn Humphrey Initiated Seattle Genetics on Mar 3, 2016 to “Neutral”, Price Target of the shares are set at $34.Seattle Genetics was Upgraded by Cantor Fitzgerald to ” Buy” on Feb 10, 2016. Shares were Reiterated by Piper Jaffray on Feb 10, 2016 to “Neutral” and Lowered the Price Target to $ 33 from a previous price target of $44 .
Seattle Genetics closed down -1.01 points or -2.58% at $38.07 with 11,06,764 shares getting traded on Wednesday. Post opening the session at $38.78, the shares hit an intraday low of $37.643 and an intraday high of $39.04 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Apr 26, 2016, Clay B Siegall (President and CEO) sold 800 shares at $40.00 per share price. According to the SEC, on Feb 17, 2016, John A Orwin (director) purchased 2,000 shares at $28.33 per share price. On Dec 16, 2015, Vaughn B Himes (EVP, Proc Svcs & Tech Ops) sold 40,500 shares at $39.94 per share price, according to the Form-4 filing with the securities and exchange commission.
Seattle Genetics Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s marketed product ADCETRIS or brentuximab vedotin is an antibody-drug conjugate (ADC) comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent monomethyl auristatin E (MMAE) utilizing its technology. In addition to ADCETRIS the Company’s pipeline includes six clinical-stage ADC programs consisting of SGN-CD33A SGN-CD19A SGN-LIV1A SGN-CD70A ASG-22ME and ASG-15ME and SEA-CD40 which is based on its sugar-engineered antibody (SEA) technology. In addition it has multiple preclinical and research-stage programs that employ its technologies. Its technologies include ADC technology and Seattle Genetics’ sugar-engineered antibody (SEA) technology.