Seagen - SGEN Stock Forecast, Price & News

Seagen Inc., a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company offers ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas; PADCEV, an ADC targeting Nectin-4 for the treatment of advanced or metastatic urothelial cancer; and TUKYSA, an oral small molecule tyrosine kinase inhibitor for the treatment of adult patients with advanced unresectable or metastatic HER2-positive breast cancer. It also develops TIVDAK for metastatic cervical cancer and other solid tumors; Ladiratuzumab Vedotin, an ADC targeting LIV-1 for metastatic breast cancer and solid tumors; Disitamab Vedotin, a novel HER2-targeted ADC; and SEA-CD40, SEA-TGT, SEA-BCMA, and SEA-CD70 for various cancer diseases. Seagen Inc. has collaboration agreements with Takeda Pharmaceutical Company Limited; Agensys, Inc.; Genmab A/S; Merck; and RemeGen, Co. Ltd. The company was formerly known as Seattle Genetics, Inc. and changed its name to Seagen Inc. in October 2020. Seagen Inc. was incorporated in 1997 and is headquartered in Bothell, Washington.

Seagen Price Performance

Shares of NASDAQ:SGEN traded up $1.98 during trading hours on Tuesday, hitting $170.51. 44,635 shares of the company's stock traded hands, compared to its average volume of 959,448. Seagen has a 1 year low of $105.43 and a 1 year high of $192.79. The business has a fifty day moving average price of $170.09 and a 200-day moving average price of $148.32. The firm has a market capitalization of $31.45 billion, a P/E ratio of -41.82 and a beta of 0.57.

Seagen (NASDAQ:SGEN - Get Rating) last announced its earnings results on Thursday, July 28th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.09. The business had revenue of $497.50 million during the quarter, compared to analyst estimates of $437.77 million. Seagen had a negative return on equity of 24.33% and a negative net margin of 41.61%. The company's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) earnings per share. As a group, equities analysts predict that Seagen will post -3.42 earnings per share for the current year.

Analysts Set New Price Targets

SGEN has been the topic of several analyst reports. BMO Capital Markets initiated coverage on Seagen in a research report on Thursday, June 23rd. They set a "market perform" rating and a $169.00 target price on the stock. SVB Leerink decreased their price target on Seagen from $159.00 to $152.00 and set an "outperform" rating on the stock in a report on Monday. TheStreet raised Seagen from a "d+" rating to a "c" rating in a report on Wednesday, July 6th. Oppenheimer raised their price target on Seagen from $160.00 to $208.00 and gave the company an "outperform" rating in a report on Tuesday, June 21st. Finally, JMP Securities lifted their target price on Seagen from $157.00 to $196.00 and gave the stock a "market outperform" rating in a report on Friday, July 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Seagen has a consensus rating of "Moderate Buy" and a consensus price target of $179.79.

Insider Buying and Selling

In related news, EVP Charles R. Romp sold 712 shares of the business's stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $179.46, for a total value of $127,775.52. Following the completion of the transaction, the executive vice president now owns 48,771 shares of the company's stock, valued at $8,752,443.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Charles R. Romp sold 712 shares of the business's stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $179.46, for a total value of $127,775.52. Following the completion of the transaction, the executive vice president now owns 48,771 shares of the company's stock, valued at $8,752,443.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Roger D. Dansey sold 34,635 shares of the company's stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $180.00, for a total value of $6,234,300.00. Following the transaction, the insider now directly owns 62,084 shares in the company, valued at $11,175,120. The disclosure for this sale can be found here. Insiders sold 47,347 shares of company stock valued at $8,029,876 over the last 90 days. Corporate insiders own 27.30% of the company's stock.