Seattle Genetics, Inc. (NASDAQ:SGEN) is reporting third quarter earnings results on Thursday 29th October 2020, after market close.
The consensus estimates from Thomson Reuters are income of $ 0.50 per share.
For the full year, analysts predict revenues of $ 1502.28 million, while looking forward to loss of $ 0.29 per share.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 1,025.00 million ~ $ 1,100.00 million
Click Here For More Historical Outlooks Of Seattle Genetics, Inc.
Previous Quarter Performance
Seattle Genetics, Inc. announced loss for the second quarter of $ 0.12 per share, from the revenue of $ 278.00 million. The quarterly revenues gained 27.26 percent compared with the same quarter last year. The consensus estimates are loss of $ 0.63 per share from $ 256.43 million in revenue. The bottom line results beat street analysts by $ 0.51 or 80.95 percent, at the same time, top line results outshined analysts by $ 21.57 million or 8.41 percent.
Stock Performance
Shares of Seattle Genetics, Inc. traded low $ -2.07 or -1.05 percent on Wednesday, reaching $ 194.85 with volume of 449.20 thousand shares. Seattle Genetics, Inc. has traded high as $ 198.00 and has cracked $ 191.76 on the downward trend
According to the previous trading day, closing price of $ 194.85, representing a 117.42 % increase from the 52 week low of $ 90.57 and a 7.96 % decrease over the 52 week high of $ 213.94.
The company has a market capital of $ 33.90 billion and is part of the Healthcare sector and Biotechnology industry.
Recent Analyst recommendations
- On 15th October 2020, maintained by Bank of America at Neutral rating, with $ 215.00 target price.
- On 12th October 2020, maintained by SVB Leerink at Outperform rating, with $ 204.00 target price.
- On 22nd September 2020, maintained by SVB Leerink at Outperform rating, with $ 187.00 target price.
- On 15th September 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 167.00 target price.
- On 15th September 2020, maintained by SVB Leerink at Outperform rating, with $ 185.00 target price.
Conference Call
Seattle Genetics, Inc. will be hosting a conference call at 4:30 PM eastern time on 29th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.seattlegenetics.com
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. It also conducts various clinical trials to evaluate the combination of ADCETRIS and nivolumab to treat patients with relapsed or refractory, or transplant-ineligible, advanced classical Hodgkin lymphoma; relapsed or refractory B-cell and T-cell non-Hodgkin lymphomas; second-line Hodgkin lymphoma; and relapsed/refractory classical Hodgkin lymphoma, as well as to treat Hodgkin lymphoma in patients with age 60 years or older.
