FY2024 EPS Estimates for Seagen Inc. (NASDAQ:SGEN) Lifted by Oppenheimer

Seagen Inc. (NASDAQ:SGENGet Rating) – Analysts at Oppenheimer boosted their FY2024 EPS estimates for shares of Seagen in a research note issued to investors on Thursday, July 28th. Oppenheimer analyst J. Olson now expects that the biotechnology company will post earnings of $3.94 per share for the year, up from their prior forecast of $3.73. Oppenheimer has a “Outperform” rating and a $208.00 price objective on the stock. The consensus estimate for Seagen’s current full-year earnings is ($3.50) per share. Oppenheimer also issued estimates for Seagen’s FY2026 earnings at $12.28 EPS.

A number of other research firms also recently weighed in on SGEN. Morgan Stanley lifted their target price on Seagen from $180.00 to $181.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets initiated coverage on shares of Seagen in a report on Thursday, June 23rd. They issued a “market perform” rating and a $169.00 price target on the stock. Guggenheim set a $204.00 price target on shares of Seagen in a report on Tuesday, July 19th. Royal Bank of Canada boosted their price target on shares of Seagen from $136.00 to $179.00 in a report on Friday. Finally, JMP Securities boosted their price target on shares of Seagen from $157.00 to $196.00 and gave the company a “market outperform” rating in a report on Friday, July 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Seagen has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

Seagen Price Performance

Seagen stock opened at $179.98 on Monday. The firm has a fifty day moving average price of $162.03 and a two-hundred day moving average price of $144.78. The firm has a market cap of $33.13 billion, a price-to-earnings ratio of -47.74 and a beta of 0.60. Seagen has a fifty-two week low of $105.43 and a fifty-two week high of $192.79.

Seagen (NASDAQ:SGENGet Rating) last released its earnings results on Thursday, July 28th. The biotechnology company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.09. The firm had revenue of $497.50 million during the quarter, compared to analyst estimates of $437.77 million. Seagen had a negative net margin of 41.32% and a negative return on equity of 21.86%. The business’s revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) EPS.

Institutional Trading of Seagen

A number of hedge funds have recently modified their holdings of the company. Baird Financial Group Inc. raised its position in shares of Seagen by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 20,977 shares of the biotechnology company’s stock valued at $3,022,000 after acquiring an additional 82 shares during the period. HighTower Advisors LLC increased its stake in Seagen by 5.8% during the 1st quarter. HighTower Advisors LLC now owns 1,538 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 84 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Seagen by 3.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,953 shares of the biotechnology company’s stock worth $523,000 after purchasing an additional 91 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in Seagen by 14.7% during the 4th quarter. Loomis Sayles & Co. L P now owns 725 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 93 shares in the last quarter. Finally, Veriti Management LLC increased its stake in Seagen by 4.2% during the 1st quarter. Veriti Management LLC now owns 2,345 shares of the biotechnology company’s stock worth $338,000 after purchasing an additional 94 shares in the last quarter. 90.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Seagen

In other Seagen news, insider Roger D. Dansey sold 34,635 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $180.00, for a total transaction of $6,234,300.00. Following the transaction, the insider now directly owns 62,084 shares in the company, valued at approximately $11,175,120. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Roger D. Dansey sold 34,635 shares of the stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $180.00, for a total value of $6,234,300.00. Following the sale, the insider now directly owns 62,084 shares in the company, valued at approximately $11,175,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles R. Romp sold 712 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 48,771 shares in the company, valued at $8,752,443.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,723 shares of company stock worth $10,216,702. Company insiders own 27.30% of the company’s stock.

About Seagen

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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.

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Earnings History and Estimates for Seagen (NASDAQ:SGEN)

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