Seattle Genetics Inc. Third Quarter Earnings on Horizon

Seattle Genetics, Inc. (NASDAQ:SGEN) will unveil its latest earnings on Thursday, November 3, 2011. Seattle Genetics is a biotechnology company 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 46 cents per share, a wider loss from the year earlier quarter net loss of 34 cents. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged. It also has not changed during the last month.

Past Earnings Performance: Last quarter, the company missed estimates by 6 cents, coming in at a loss of 45 cents per share versus a mean estimate of net loss of 39 cents per share. In the first quarter, the company beat estimates by 6 cents.

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Wall St. Revenue Expectations: On average, analysts predict $13.6 million in revenue this quarter, a decline of 15.1% from the year ago quarter. Analysts are forecasting total revenue of $62.6 million for the year, a decline of 41.7% from last year’s revenue of $107.5 million.

Analyst Ratings: nine out of 15 analysts surveyed (60%) have a buy rating on Seattle Genetics.. This is below the mean analyst rating of 10 competitors, which average 71.2% buy ratings.

A Look Back: In the second quarter, the company’s loss widened to a loss of a $51.5 million (45 cents a share) from a loss of $8.3 million (8 cents) a year earlier, missing analyst expectations. Revenue fell 64.6% to $13.1 million from $36.9 million.

Key Stats:

Revenue has fallen for the past three quarters. Revenue fell 73.8% in first quarter from the year earlier and 62.6% in the fourth quarter of the last fiscal year.

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 August 4, 2011 to October 28, 2011, the stock price had risen $7.66 (53.4%) from $14.34 to $22. 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 July 21, 2011 and July 28, 2011 when shares fell for six-straight days, falling 7.6% (-$1.36) over that span. Shares are up $7.05 (+47.2%) year to date.

(Source: Xignite Financials)

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

 

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