Oppenheimer Equities Analysts Decrease Earnings Estimates for Seagen Inc. (NASDAQ:SGEN)

Seagen Inc. (NASDAQ:SGEN) – Oppenheimer cut their FY2021 EPS estimates for Seagen in a research note issued to investors on Tuesday, April 20th. Oppenheimer analyst J. Olson now forecasts that the biotechnology company will post earnings per share of ($2.06) for the year, down from their prior forecast of ($2.05).

Seagen (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, February 11th. The biotechnology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.09. The company had revenue of $601.29 million during the quarter, compared to the consensus estimate of $583.58 million. Seagen had a return on equity of 20.46% and a net margin of 25.34%. During the same period in the previous year, the firm posted $0.14 EPS.

A number of other research firms have also recently weighed in on SGEN. Royal Bank of Canada decreased their price objective on shares of Seagen from $186.00 to $169.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 16th. TheStreet lowered Seagen from a “b-” rating to a “c” rating in a research report on Friday, February 12th. Credit Suisse Group started coverage on Seagen in a report on Tuesday, March 30th. They set a “neutral” rating and a $145.00 price target on the stock. Barclays lowered their price target on Seagen from $177.00 to $168.00 and set an “equal weight” rating on the stock in a report on Friday, February 12th. Finally, Berenberg Bank restated a “buy” rating on shares of Seagen in a research note on Friday, February 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $185.36.

Shares of Seagen stock opened at $143.65 on Friday. The company has a fifty day moving average price of $145.29 and a 200 day moving average price of $170.87. Seagen has a twelve month low of $134.51 and a twelve month high of $213.94. The stock has a market cap of $26.04 billion, a price-to-earnings ratio of 56.56 and a beta of 1.11.

In other news, insider Vaughn B. Himes sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 2nd. The stock was sold at an average price of $153.22, for a total value of $1,838,640.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Clay B. Siegall sold 29,353 shares of Seagen stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $165.57, for a total value of $4,859,976.21. The disclosure for this sale can be found here. In the last three months, insiders sold 83,308 shares of company stock valued at $12,765,502. Insiders own 31.10% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. grew its holdings in shares of Seagen by 6,800.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 3,450 shares of the biotechnology company’s stock worth $479,000 after acquiring an additional 3,400 shares during the period. Grandfield & Dodd LLC increased its position in Seagen by 0.5% during the 1st quarter. Grandfield & Dodd LLC now owns 14,794 shares of the biotechnology company’s stock valued at $2,050,000 after buying an additional 68 shares in the last quarter. DnB Asset Management AS increased its position in Seagen by 67.7% during the 1st quarter. DnB Asset Management AS now owns 27,444 shares of the biotechnology company’s stock valued at $3,811,000 after buying an additional 11,079 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Seagen by 19.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 9,400 shares of the biotechnology company’s stock valued at $1,305,000 after buying an additional 1,500 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd boosted its stake in Seagen by 8.7% during the 1st quarter. Redpoint Investment Management Pty Ltd now owns 2,600 shares of the biotechnology company’s stock valued at $361,000 after purchasing an additional 208 shares during the last quarter. 87.15% of the stock is owned by institutional investors and hedge funds.

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; PADCEV, an ADC targeting Nectin-4 for the treatment of metastatic urothelial cancers; 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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