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Seagen Inc Ordinary Shares SGEN

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Narrow-Moat Seagen Reports Strong Q4 Results, but Guidance Seems Light; Maintaining Our $138 FVE

Karen Andersen, CFA Sector Strategist

Analyst Note

| Karen Andersen, CFA |

Narrow-moat Seagen reported solid fourth-quarter and full-year results that outperformed our expectations on the top and bottom lines. Notably, the company reached its first year of profitability, bringing full-year revenue to about $2.2 billion, driven by the successful launches of its antibody drug conjugates portfolio as well as Merck’s sizable collaboration payment for ladiratuzumab vedotin and Tukysa. After incorporating management’s lighter-than-expected outlook for 2021, we are maintaining our $138 fair value estimate and narrow moat rating. 

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Company Profile

Business Description

Seagen Inc is a biotech firm focused on developing antibody-drug conjugates. The company's lead product, Adcetris, has received approval for advanced front-line, relapsed/refractory and post-consolidation Hodgkin lymphoma, anaplastic large-cell lymphoma, and two other subtypes of cutaneous T-cell lymphoma. Other approved products include Padcev (bladder cancer) and Tukysa (breast cancer). The company has several other oncology programs in pivotal trials. Seagen also licenses its antibody-drug conjugate technology to a number of leading biotechnology and pharmaceutical companies.

Contact
21823 - 30th Drive South East, Building 3
Bothell, WA, 98021
T +1 425 527-4000
Sector Healthcare
Industry Biotechnology
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type Speculative Growth
Employees 2,092

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