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With Meaningful Upside, This Cancer Stock Earns Analyst Upgrade

BMO Capital Markets upgraded Seagen Inc (NASDAQ:SGEN) from Market Perform to Outperform with a price target of $178 from $177, saying the…
byVandana Singh
October 11, 2022
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  • BMO Capital Markets upgraded Seagen Inc (NASDAQ:SGEN) from Market Perform to Outperform with a price target of $178 from $177, saying the core business is undervalued.
  • BMO forecasts SGEN’s commercial portfolio to deliver $1.6 billion in product sales in 2022, relatively in line with consensus, and estimates sales of ~$5.3 billion in 2026, above the consensus of ~$4.9 billion. 
  • The main longer-term revenue driver is Padcev (enfortumab vedotin), expected to deliver sales of ~$2.1 billion in 2026 vs. a consensus of $1.9 billion.
  • Padcev expansion into tumors beyond bladder cancer would represent an upside to the analyst estimates.
  • Recently announced Padcev data in bladder cancer showed a 64.5% confirmed objective response rate (ORR), the primary endpoint of Cohort K. 
  • The analyst also notes that a permanent replacement of the CEO may provide clarity to SGEN’s longer-term strategy in the wake of cooling discussions with Merck & Co Inc (NYSE:MRK) on a potential buyout.
  • Price Action: SGEN shares are up 2.19% at $133.81 on the last check Tuesday.
 
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This Undervalued Cannabis Stock Has Another Year Of Growth: Reports Record 2023 Revenue And Adjusted EBITDA

By Jelena Martinovic
April 29, 10:39 AM
Decibel Cannabis Company reported on Monday its audited financial results for the three and twelve month periods ending Dec. 31, 2023. The Calgary, Alberta-based company said it saw a record net revenue of CA$116 million ($84.8 million) in 2023, an increase of 46% over 2022. "The Company's fourth quarter financial results delivered another year of growth across all metrics and I look forward to working with the team to continue to build on this success" Benjamin Sze, Decibel's new CEO, said. Sze was recently appointed to serve as Decibel's CEO, succeeding Paul Wilson. He rejoined the company after previously serving as CEO before resigning in late 2020 to focus on his family.

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