Seattle Genetics Inc. ($SGEN) Stock Forecast: Down 0.0% Today

What is Seattle Genetics Inc.?

Seagen Inc (SGEN) is a biotechnology company that focuses on the development and commercialization of antibody-based therapies for the treatment of cancer. The company is known for its innovative approach to cancer treatment and has a strong pipeline of potential drugs.

Why is Seattle Genetics Inc. going down?

SGEN stock is down 0.0% on Nov 1, 2023 14:00

• Seagen Inc reported a loss for its third quarter that increased from last year and missed Street estimates.
• The company's GAAP EPS missed by $0.37 and revenue missed by $64.1 million, disappointing investors.
• Pfizer CEO Albert Bourla expressed interest in acquiring Seagen, which may have contributed to market speculation and the bearish movement of the stock.
• Overall, the negative financial results and potential acquisition news likely led to the bearish market movement for Seagen Inc.

SGEN Price Chart

SGEN Technical Analysis

SGEN News

Seagen Inc Q3 Loss increases, misses estimates

WASHINGTON (dpa-AFX) - Seagen Inc (SGEN) reported Loss for its third quarter that increased from last year and missed the Street estimates.The company''s earnings totaled -$215.79 million, or -$1.1…

https://www.finanznachrichten.de/nachrichten-2023-11/60530616-seagen-inc-q3-loss-increases-misses-estimates-020.htm

Seattle Genetics: Q3 Earnings Snapshot

BOTHELL, Wash. (AP) — BOTHELL, Wash. (AP) — Seattle Genetics Inc. (SGEN) on Wednesday reported a loss of $215.8 million…

https://wtop.com/news/2023/11/seattle-genetics-q3-earnings-snapshot/

Seattle Genetics GAAP EPS of -$1.15 misses by $0.37, revenue of $571M misses by $64.1M

Seattle Genetics Q3 financial results disappoint investors with a GAAP EPS miss of $0.37 and a revenue miss of $64.1M (-11.9% Y/Y).

https://seekingalpha.com/news/4027716-seattle-genetics-gaap-eps-of-1_15-misses-0_37-revenue-of-571m-misses-64_1m?feed_item_type=news

Earnings Scheduled For November 1, 2023

Companies Reporting Before The Bell • GSK (NYSE: GSK ) is expected to report quarterly earnings at $1.07 per share on revenue of $9.37 billion. • Ballys (NYSE: BALY ) is estimated to report quarterly loss at $0.08 per share on revenue of $638.03 million. • Wingstop (NASDAQ: WING ) is projected to report quarterly earnings at $0.51 per share on revenue of $108.72 million. • Seagen (NASDAQ: SGEN ) is projected to report quarterly earnings at $0.80 per share on revenue of $634.14 million. • TG Therapeutics (NASDAQ: TGTX ) is expected to report quarterly earnings at $0.12 per share on revenue of $46.56 million. • Mastech Digital (AMEX: MHH ) is likely to report quarterly earnings at $0.13 per share on revenue of $49.44 million. • Costamare (NYSE: CMRE ) is projected to report quarterly earnings at $0.66 per share on revenue of $310.53 million. • Avanos Medical (NYSE: AVNS ) is projected to report quarterly earnings at $0.28 per share on revenue of $169.60 million. • Beasley Broadcast Group (NASDAQ: BBGI ) is estimated to report quarterly loss at $0.

https://www.benzinga.com/news/earnings/23/11/35530611/earnings-scheduled-for-november-1-2023

''We are really keen to join forces with Seagen'': Pfizer CEO on plans to acquire cancer drugmaker

Pfizer CEO Albert Bourla told CNBC''s Jim Cramer about his company''s plans to acquire cancer drugmaker Seagen.

https://www.cnbc.com/2023/10/31/pfizer-ceo-really-keen-to-join-forces-with-cancer-drugmaker-seagen.html

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Seattle Genetics Inc. Price History

15.07.2023 - SGEN Stock was down 0.3%

• The bearish movement in SGEN today could be attributed to the following factors:
• 1. Research Coverage: The recent research coverage by StockNews.com, which gave a "hold" rating on Seagen's stock, might have influenced investor sentiment and contributed to the bearish movement.
• 2. Market Performance: Despite Seagen's strong long-term performance, with an average annual return of 20.36% over the past 15 years, the current market conditions might have led to profit-taking and a temporary decline in the stock price.
• 3. Overall Market Sentiment: The broader market sentiment and factors such as economic indicators, geopolitical events, or industry trends could have also played a role in the bearish movement of SGEN today.

23.09.2023 - SGEN Stock was up 0.9%

• SGEN had a strong bullish movement today.
• The Phase 3 trials of KEYTRUDA plus Padcev and TIVDAK showed promising results in the treatment of urothelial cancer and cervical cancer, respectively, which likely contributed to the bullish movement.
• The positive trial results could potentially lead to increased sales and revenue for Seagen Inc., boosting investor confidence in the stock.
• The approval of Seagen's sale to Pfizer by the European antitrust regulator also added to the positive sentiment surrounding the stock.

15.04.2023 - SGEN Stock was down 2.0%

• Seagen's short percent of float has risen 46.41% since its last report, indicating that investors are betting against the company's stock.
• Pfizer's launch of a debt offering for Seagen acquisition and the filing with FTC and DOJ for antitrust approval for the $43 billion acquisition of Seagen might have caused uncertainty among investors, leading to the bearish movement.
• The research coverage started at StockNews.com might not have been enough to offset the negative sentiment caused by the uncertainty surrounding the acquisition.
• The overall market sentiment towards biotech companies might have also played a role, as biotech ETFs have been popping on M&A resurgence.

09.07.2023 - SGEN Stock was up 0.4%

• The bullish movement in SGEN's stock today can be attributed to several factors:
• 1. Positive outlook for ADC market: The forecast by GlobalData highlighting the promising shift towards the development of ADCs for cancer treatment in the pharmaceutical industry indicates a potential growth opportunity for Seagen. This positive industry trend likely boosted investor confidence in the company's prospects.
• 2. Coverage initiation by analysts: The coverage initiation by analysts at StockNews.com, even though they set a "hold" rating, brought attention to Seagen's stock. This increased visibility could have attracted investors and contributed to the bullish movement.
• 3. Contract with Skanska: The contract secured by Skanska to build a biomanufacturing facility for Seagen in Washington for $215 million indicates the company's commitment to expanding its capabilities. This news may have instilled confidence in investors regarding Seagen's future growth and development.
• Overall, the positive industry outlook, coverage initiation, and contract announcement likely played a role in driving the bullish movement of SGEN's stock today.

01.10.2023 - SGEN Stock was down 0.0%

• Seagen Inc reported a loss for its third quarter that increased from last year and missed Street estimates.
• The company's GAAP EPS missed by $0.37 and revenue missed by $64.1 million, disappointing investors.
• Pfizer CEO Albert Bourla expressed interest in acquiring Seagen, which may have contributed to market speculation and the bearish movement of the stock.
• Overall, the negative financial results and potential acquisition news likely led to the bearish market movement for Seagen Inc.