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 Stock Performance

NASDAQ:SGEN traded down $1.94 during mid-day trading on Monday, reaching $168.20. The stock had a trading volume of 35,172 shares, compared to its average volume of 1,211,699. The firm has a 50 day moving average price of $169.57 and a two-hundred day moving average price of $148.04. Seagen has a one year low of $105.43 and a one year high of $192.79.

Seagen (NASDAQ:SGEN - Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.82) by $0.09. The company had revenue of $497.50 million during the quarter, compared to analysts' expectations of $437.77 million. Seagen had a negative net margin of 41.61% and a negative return on equity of 24.33%. The firm's revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. On average, sell-side analysts predict that Seagen will post -3.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SGEN shares. Royal Bank of Canada raised their price target on shares of Seagen from $136.00 to $179.00 in a research note on Friday, July 29th. JMP Securities upped their price target on Seagen from $157.00 to $196.00 and gave the company a "market outperform" rating in a research report on Friday, July 8th. SVB Leerink lowered their price objective on Seagen from $159.00 to $152.00 and set an "outperform" rating on the stock in a research note on Monday. Oppenheimer increased their target price on shares of Seagen from $160.00 to $208.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 21st. Finally, HC Wainwright boosted their price target on shares of Seagen from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $179.14.

Insider Activity at Seagen

In other Seagen news, insider Vaughn B. Himes sold 10,866 shares of Seagen stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $136.79, for a total value of $1,486,360.14. Following the transaction, the insider now directly owns 59,064 shares of the company's stock, valued at approximately $8,079,364.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Charles R. Romp sold 712 shares of the business's stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $179.46, for a total transaction of $127,775.52. Following the sale, the executive vice president now owns 48,771 shares in the company, valued at approximately $8,752,443.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Vaughn B. Himes sold 10,866 shares of the company's stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $136.79, for a total value of $1,486,360.14. Following the completion of the sale, the insider now owns 59,064 shares in the company, valued at approximately $8,079,364.56. The disclosure for this sale can be found here. Insiders sold 47,347 shares of company stock worth $8,029,876 in the last ninety days. 27.30% of the stock is owned by company insiders.