- Seagen Inc (NASDAQ:SGEN) reported a Q4 EPS loss of $(0.80), better than the consensus of $(1.05) and $(0.95) a year ago, and revenue of $528.15 million beating the consensus of $480.15 million.
- The company forecasts 2023 revenue of $2.14-$2.24 billion compared to the consensus of $2.3 billion.
- Raymond James upgraded the rating to Strong Buy and raised the price target to $175 from $155.
- The upcoming potential accelerated approval of Padcev in 1L cis-ineligible patients (PDUFA 4/21/23) will act as a springboard into the topline data of EV-302 later in the year.
- Data from HER2CLIMB-02 could expand the Tukysa label and provide clinical and mechanistic insight into the combinability of Tukysa and ADCs.
- RBC Capital Markets raised its price target to $155 from $145 with an Outperform rating. The analyst writes that pipeline prioritization gives way to continued investment in key spots and shows the presence of an advancing pipeline, underscored by notable (and refreshing) management enthusiasm.
- BMO Capital says the step-up in R&D spending vs. consensus is notable. The analyst liked management’s tone on the opportunities for investing in the early pipeline and remains at Outperform with a target price of $179 (from $177).
- Guggenheim expects Adcetris and Padcev to be key sales drivers in 2023, with Adcetris US sales potentially surpassing $1 billion in 2023, while Tukysa continues to face competitive headwinds in breast cancer.
- William Blair writes that Seagen is entering a catalyst-rich period, and the analyst is most enthusiastic about the potential Padcev approval in treatment-naïve urothelial carcinoma, which can potentially reinvigorate growth for the franchise.
- Price Action: SGEN shares are up 12.9% at $160.41 on the last check Thursday.
ADM Exceeds 2M Regenerative Agriculture Acre Goal For 2023, Targeting 3.5M Regenerative Acres In 2024, Increases 2025 Goal To 5M Acres
Launch of regenerative agriculture initiatives in Europe, Latin America accelerate global progress as company works toward 3.5 million acres in 2024ADM (NYSE:ADM) announced today that its global regenerative agriculture
