Seattle Genetics, Inc. Second Quarter Earnings Preview

Seattle Genetics, Inc. (NASDAQ:SGEN) will unveil its latest earnings on Monday, July 25, 2011. Seattle Genetics, Inc. is a biotechnology company, which is focused on the development and commercialization of monoclonal antibody-based therapies for the treatment of cancer and autoimmune disease.

Seattle Genetics, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net loss of 39 cents per share, a wider loss from the year earlier quarter net loss of 8 cents. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged and it has not changed during the last month.

Past Earnings Performance: The company’s quarterly results have come in above estimates for the last three quarters. Last quarter, the company booked a loss of 30 cents per share versus a mean estimate of net loss of 36 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $10.9 million in revenue this quarter, a decline of 70.3% from the year ago quarter. Analysts are forecasting total revenue of $52.7 million for the year, a decline of 50.9% from last year’s revenue of $107.5 million.

Analyst Ratings: Analysts are bullish on this stock with nine analysts rating it as a buy, three rating it as a sell and two rating it as a hold.

Key Stats:

Revenue has fallen in the past two quarters. In first quarter, revenue declined 73.8% to $12.2 million from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 62.6%.

Competitors to Watch: Pfizer Inc. (NYSE:PFE), Bristol Myers Squibb Co. (NYSE:BMY), Biogen Idec Inc. (NASDAQ:BIIB), Celldex Therapeutics, Inc. (NASDAQ:CLDX), Genzyme Corporation (NASDAQ:GENZ), Micromet Inc. (NASDAQ:MITI), Allos Therapeutics, Inc. (NASDAQ:ALTH), Cephalon, Inc. (NASDAQ:CEPH), Celgene Corporation (NASDAQ:CELG), and ImmunoGen, Inc. (NASDAQ:IMGN).

Stock Price Performance: During April 21, 2011 to July 19, 2011, the stock price had risen $2.36 (15.1%) from $15.64 to $18. The stock price saw one of its best stretches over the last year between May 11, 2011 and May 20, 2011 when shares rose for eight-straight days, rising 9.1% (+$1.58) over that span. It saw one of its worst periods between October 22, 2010 and November 2, 2010 when shares fell for eight-straight days, falling 16.7% (-$2.84) over that span. Shares are up $3.05 (+20.4%) year to date.

(Source: Xignite Financials)

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