Equities Analysts Issue Forecasts for Seagen Inc.’s Q4 2020 Earnings (NASDAQ:SGEN)
Seagen Inc. (NASDAQ:SGEN) – Equities research analysts at Oppenheimer boosted their Q4 2020 earnings per share estimates for Seagen in a research report issued on Tuesday, November 17th. Oppenheimer analyst J. Olson now anticipates that the biotechnology company will post earnings of $0.83 per share for the quarter, up from their prior forecast of ($0.32). Oppenheimer currently has a “Buy” rating and a $213.00 price target on the stock. Oppenheimer also issued estimates for Seagen’s FY2021 earnings at $1.11 EPS, FY2022 earnings at $3.12 EPS, FY2023 earnings at $6.86 EPS and FY2024 earnings at $9.33 EPS.
Seagen (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, October 29th. The biotechnology company reported $3.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $3.58. Seagen had a negative return on equity of 18.32% and a negative net margin of 25.17%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $486.67 million. During the same period last year, the firm posted ($0.55) EPS. Seagen’s revenue for the quarter was up 397.9% compared to the same quarter last year.
NASDAQ SGEN opened at $173.41 on Friday. Seagen has a twelve month low of $90.57 and a twelve month high of $213.94. The firm has a market capitalization of $31.27 billion, a PE ratio of -114.84 and a beta of 1.13. The stock’s 50 day moving average is $188.14 and its 200 day moving average is $169.58.
A number of institutional investors have recently modified their holdings of the business. Fairfield Bush & CO. raised its stake in Seagen by 12.7% during the third quarter. Fairfield Bush & CO. now owns 12,520 shares of the biotechnology company’s stock worth $2,450,000 after purchasing an additional 1,407 shares during the period. Public Employees Retirement System of Ohio raised its stake in Seagen by 5.6% during the third quarter. Public Employees Retirement System of Ohio now owns 49,021 shares of the biotechnology company’s stock worth $9,593,000 after purchasing an additional 2,598 shares during the period. Voloridge Investment Management LLC purchased a new position in Seagen during the third quarter worth approximately $813,000. Worldquant Millennium Advisors LLC raised its stake in Seagen by 1.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 84,783 shares of the biotechnology company’s stock worth $16,591,000 after purchasing an additional 808 shares during the period. Finally, Polar Capital LLP raised its stake in Seagen by 8.7% during the third quarter. Polar Capital LLP now owns 125,000 shares of the biotechnology company’s stock worth $24,461,000 after purchasing an additional 10,000 shares during the period. 91.96% of the stock is owned by institutional investors.
In other Seagen news, EVP Jean I. Liu sold 3,648 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $155.69, for a total value of $567,957.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David W. Gryska sold 4,500 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $180.60, for a total transaction of $812,700.00. The disclosure for this sale can be found here. Insiders have sold 130,888 shares of company stock valued at $21,652,274 over the last three months. 31.10% of the stock is currently owned by corporate insiders.
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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