Equities Research Analysts Provide Insight on Seagen (NASDAQ:SGEN)
On May 3, 2023, StockNews.com issued a report covering Seagen (NASDAQ:SGEN). According to the firm’s equities research analysts, they have given a “hold” rating on the stock of the biotechnology company.
Seagen (NASDAQ:SGEN) recently released its quarterly earnings data on April 27th. For the quarter, the company reported an earnings per share (EPS) of ($0.93), which was shy of the analyst’s consensus estimates of ($0.82) by $0.11. Meanwhile, Seagen recorded revenue amounting to $519.70 million for Q1 2023 — slightly higher than the earlier expectations from analysts who predicted that it would hit $516.28 million in revenue.
Seagen is primarily engaged in developing and commercializing targeted therapies centered on cancer treatment. The company is also intent on advancing therapies for solid tumors and blood-related cancers. Standing among its list of products are Adcetris, Padcev, Tivdak, and Tukysa.
The mission behind Seagen Inc.’s formation under Clay B. lies in addressing the need for better cancer treatments through the development of more specific and equally effective cancer-fighting agents.
The overall prediction among research professionals currently is that Seagen could potentially post -2.92 EPS this year if they persist with their innovative initiatives towards treating different forms of cancer.
Overall, investors may want to observe further before deciding if holding onto Seagen’s stock is worth their while until more definitive information surfaces regarding developments inside this leading biotechnology firm over time.
Seagen Inc (SGEN) Stock Analysis and Ratings: A Look at Performance, Insider Trading and Institutional Investors
On May 3, 2023, Seagen Inc (SGEN), a biotechnology company engaged in the development and commercialization of targeted therapies for the treatment of cancer, opened at $199.93 with a market capitalization of $37.41 billion. The stock has a price-to-earnings ratio of -57.29 and a beta of 0.54, while its fifty-day simple moving average is $194.83 and its two-hundred day simple moving average is $154.12.
A number of equities research analysts have given different ratings on SGEN’s stock following their recent actions since February 6th up to March 14th. Barclays raised the target price from $145 to $228 with an “equal weight” rating while Raymond James lowered it from “strong-buy” to “market perform”. SVB Leerink also downgraded SGEN from an “outperform” rating to a “market perform” rating and reduced its price target from $162 to $141 citing reasons for this reduction as well as, among others, increasing competition in the market for targeted cancer therapies.
Guggenheim reiterated their “buy” rating with a target price of $170 per share while Needham & Company LLC also issued a similar rating but later downgraded it to a “hold.” Furthermore, according to data from Bloomberg.com, SGEN currently has an average hold rating with an average target price of $190.47.
On insider trading activities, Jean I. Liu sold 5,000 shares on Thursday February 16th at an average price of $155 per share which totaled about $775,000 in shareholder value realization by the insider trader who still owns more than 85k shares worth northward of thirteen million dollars on that same date.
Institutional investors seem bullish too with Yousif Capital Management recently acquiring new positions worth over three hundred thousand dollars in Seagen’s stock while Pacer Advisors Inc increased their stake in the company by 99.8% and currently owns 10,589 shares valued at over two million dollars. Daiwa Securities Group has also increased its position by 1.5% to more than fifteen thousand shares worth three million dollars.
Finally, Seagen remains steadfast in its aspirations to become a leading biotech industry leader while continuing to advance therapies for solid tumors and blood-related cancers with products such as Adcetris, Padcev, Tivdak, and Tukysa as key drivers of growth in the near future.