Analysts Expect Seagen Inc. (NASDAQ:SGEN) Will Announce Quarterly Sales of $344.21 Million


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Wall Street analysts expect that Seagen Inc. (NASDAQ:SGEN) will announce $344.21 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Seagen’s earnings, with estimates ranging from $334.50 million to $355.50 million. Seagen reported sales of $234.51 million during the same quarter last year, which would suggest a positive year over year growth rate of 46.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, April 29th.

According to Zacks, analysts expect that Seagen will report full year sales of $1.49 billion for the current financial year, with estimates ranging from $1.46 billion to $1.52 billion. For the next year, analysts anticipate that the company will report sales of $2.28 billion, with estimates ranging from $1.75 billion to $2.69 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Seagen.

Seagen (NASDAQ:SGEN) last issued its earnings results on Thursday, February 11th. The biotechnology company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.09. Seagen had a net margin of 25.34% and a return on equity of 20.46%. During the same period in the prior year, the firm posted $0.14 EPS.

A number of equities analysts have recently commented on the stock. Piper Sandler cut their target price on shares of Seagen from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $254.00 price target on shares of Seagen in a research note on Tuesday, November 17th. Berenberg Bank reaffirmed a “buy” rating on shares of Seagen in a research note on Friday, February 12th. Morgan Stanley dropped their price target on shares of Seagen from $177.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Friday, February 12th. Finally, SVB Leerink dropped their price target on shares of Seagen from $200.00 to $192.00 and set an “outperform” rating on the stock in a research note on Friday, February 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Seagen currently has an average rating of “Buy” and an average price target of $184.43.

Shares of SGEN stock traded down $0.55 during mid-day trading on Tuesday, reaching $157.03. The company’s stock had a trading volume of 1,218,028 shares, compared to its average volume of 1,202,458. The company’s 50 day simple moving average is $173.38 and its 200-day simple moving average is $176.35. Seagen has a 12-month low of $90.57 and a 12-month high of $213.94. The firm has a market capitalization of $28.45 billion, a PE ratio of 61.30 and a beta of 1.11.

In other news, CEO Clay B. Siegall sold 29,353 shares of Seagen stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $165.57, for a total value of $4,859,976.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles R. Romp sold 13,666 shares of Seagen stock in a transaction dated Thursday, December 3rd. The shares were sold at an average price of $179.21, for a total transaction of $2,449,083.86. Insiders sold a total of 161,017 shares of company stock valued at $29,096,173 over the last ninety days. Company insiders own 31.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Whittier Trust Co. bought a new stake in Seagen in the 3rd quarter valued at about $28,000. Regent Peak Wealth Advisors LLC bought a new stake in Seagen in the 4th quarter valued at about $30,000. Capital Advisory Group Advisory Services LLC bought a new stake in Seagen in the 3rd quarter valued at about $33,000. Newfound Research LLC bought a new stake in Seagen in the 3rd quarter valued at about $34,000. Finally, Endurance Wealth Management Inc. lifted its position in Seagen by 100.0% in the 4th quarter. Endurance Wealth Management Inc. now owns 200 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.15% of the company’s stock.

About Seagen

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas; and PADCEV, an ADC composed of an anti-Nectin-4 monoclonal antibody for the treatment of metastatic urothelial cancers.

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Earnings History and Estimates for Seagen (NASDAQ:SGEN)

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