Is Seagen Stock a Buy Now?
When it comes to churning out medicines that fight cancer, Seagen (NASDAQ: SGEN) is a heavyweight. The biotech's global footprint is expanding thanks to regulatory approvals in Europe, and its sales in the U.S. are gaining too.
Given the market's dour attitude toward growth stocks and pharmaceutical businesses recently, is Seagen a good stock to buy now, or is it not the right time? Let's investigate.
Seagen's success is determined by how effectively it can develop and market therapies to treat cancer. Right now, the company has four oncology medicines on the market, which in 2021 brought in above $1.5 billion. Its biggest seller is the lymphoma therapy Adcetris, which was responsible for $202 million in sales during the second quarter of fiscal 2022. For the full fiscal year, management is predicting total revenue of between $1.7 billion and nearly $1.8 billion, driven by growing Adcetris sales.
Source Fool.com
