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.

Analysts Set New Price Targets

A number of research firms have recently commented on SGEN. Raymond James began coverage on shares of Seagen in a research report on Wednesday, June 29th. They issued an "outperform" rating and a $220.00 price objective for the company. Guggenheim set a $204.00 price target on shares of Seagen in a research report on Tuesday, July 19th. SVB Leerink upped their price target on shares of Seagen from $155.00 to $159.00 and gave the stock an "outperform" rating in a report on Monday, June 6th. Morgan Stanley lifted their price target on Seagen from $180.00 to $181.00 and gave the company an "overweight" rating in a research report on Friday, July 29th. Finally, TheStreet upgraded shares of Seagen from a "d+" rating to a "c" rating in a research report on Wednesday, July 6th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $179.64.

Seagen Stock Performance

NASDAQ:SGEN opened at $170.14 on Friday. Seagen has a fifty-two week low of $105.43 and a fifty-two week high of $192.79. The business has a 50 day moving average price of $169.57 and a 200-day moving average price of $147.69. The firm has a market cap of $31.38 billion, a PE ratio of -42.22 and a beta of 0.57.

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

Insider Transactions at Seagen

In other Seagen news, EVP Charles R. Romp sold 712 shares of the company's stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $179.46, for a total transaction 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 approximately $8,752,443.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Charles R. Romp sold 712 shares of Seagen stock in a transaction dated 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 of the company's stock, valued at approximately $8,752,443.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Roger D. Dansey sold 34,635 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $180.00, for a total transaction of $6,234,300.00. Following the completion of the transaction, the insider now directly owns 62,084 shares of the company's stock, valued at $11,175,120. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,680 shares of company stock worth $8,074,568. Company insiders own 27.30% of the company's stock.