Equities Analysts Offer Predictions for Seagen Inc.’s FY2024 Earnings (NASDAQ:SGEN)

Seagen Inc. (NASDAQ:SGENGet Rating) – Research analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for Seagen in a report issued on Monday, May 23rd. William Blair analyst A. Hsieh now anticipates that the biotechnology company will post earnings per share of ($2.03) for the year, up from their previous forecast of ($3.52).

Seagen (NASDAQ:SGENGet Rating) last released its quarterly earnings data on Thursday, April 28th. The biotechnology company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.24. The company had revenue of $426.50 million for the quarter, compared to analyst estimates of $401.75 million. Seagen had a negative net margin of 41.32% and a negative return on equity of 21.86%. Seagen’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.67) EPS.

Several other research analysts have also weighed in on the stock. HC Wainwright lowered their price objective on shares of Seagen from $200.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, February 10th. Needham & Company LLC decreased their price target on shares of Seagen from $254.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, February 7th. Piper Sandler decreased their price target on shares of Seagen from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Thursday, February 10th. TheStreet lowered shares of Seagen from a “c-” rating to a “d+” rating in a research note on Monday, February 7th. Finally, Oppenheimer decreased their price target on shares of Seagen from $198.00 to $162.00 in a research note on Friday, February 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Seagen presently has a consensus rating of “Buy” and a consensus target price of $162.33.

Seagen stock opened at $136.47 on Thursday. The firm has a market capitalization of $25.12 billion, a PE ratio of -36.20 and a beta of 0.85. The company’s 50-day moving average is $139.11 and its 200-day moving average is $143.85. Seagen has a fifty-two week low of $105.43 and a fifty-two week high of $192.79.

Institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC lifted its holdings in shares of Seagen by 11.5% during the 3rd quarter. Hsbc Holdings PLC now owns 48,276 shares of the biotechnology company’s stock worth $8,150,000 after acquiring an additional 4,995 shares during the period. UBS Group AG lifted its stake in Seagen by 155.1% in the 3rd quarter. UBS Group AG now owns 154,418 shares of the biotechnology company’s stock valued at $26,220,000 after purchasing an additional 93,897 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Seagen by 13.2% in the 4th quarter. CIBC Asset Management Inc now owns 27,800 shares of the biotechnology company’s stock valued at $4,298,000 after purchasing an additional 3,246 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Seagen by 21.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,467 shares of the biotechnology company’s stock valued at $536,000 after purchasing an additional 609 shares during the last quarter. Finally, Snider Financial Group lifted its stake in Seagen by 8.1% in the 4th quarter. Snider Financial Group now owns 13,510 shares of the biotechnology company’s stock valued at $2,133,000 after purchasing an additional 1,014 shares during the last quarter. 90.37% of the stock is owned by institutional investors.

In other Seagen news, CEO Clay B. Siegall sold 17,043 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $125.69, for a total transaction of $2,142,134.67. Following the transaction, the chief executive officer now owns 666,060 shares in the company, valued at approximately $83,717,081.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vaughn B. Himes sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $127.05, for a total transaction of $1,524,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,634 shares of company stock worth $9,663,279. Company insiders own 27.30% of the company’s stock.

About Seagen (Get Rating)

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.

See Also

Earnings History and Estimates for Seagen (NASDAQ:SGEN)

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