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Seagen Inc Ordinary Shares SGEN Stock Quote

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Morningstar‘s Stock Analysis SGEN

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Narrow-Moat Seagen Delivers Strong Q3 Results In Line With Expectations; Maintaining $150 FVE

Rachel Elfman Equity Analyst

Analyst Note

| Rachel Elfman |

Seagen reported solid third-quarter results in line with our expectations. Quarterly revenue of $510 million represented a 20% increase from the prior-year period, which was largely driven by strong performance from Adcetris, Padcev, and Tukysa. We forecast Seagen will achieve 2022 revenue of roughly $1.9 billion, which includes modest contributions from Seagen’s recently approved drug, Tivdak. We maintain our fair value estimate of $150 per share, and we view the stock as slightly undervalued, currently trading at a 14% discount to our fair value estimate.

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Company Profile SGEN

Business Description

Seagen (formerly known as Seattle Genetics) is a biotech firm that develops and commercializes therapies to treat cancers. Seagen’s therapies are based on antibody-drug conjugate technology that utilizes the targeting ability of monoclonal antibodies to deliver cell-killing agents directly to cancer cells. The company's lead product, Adcetris, has received approval for six indications to treat Hodgkin lymphoma and T-cell lymphoma. Other approved products include Padcev for bladder cancer, Tukysa for breast cancer, and Tivdak for cervical cancer. The company has several other oncology programs in pivotal trials. Seagen also licenses its antibody-drug conjugate technology to several leading biotechnology and pharmaceutical companies.

21823 - 30th Drive South East, Building 3
Bothell, WA, 98021
T +1 425 527-4000
Industry Biotechnology
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 2,675

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