Brokerages Set Seagen Inc. (NASDAQ:SGEN) Price Target at $185.00

Seagen Inc. (NASDAQ:SGEN) has received a consensus recommendation of “Buy” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $181.90.

SGEN has been the topic of a number of recent research reports. Piper Sandler reissued a “hold” rating and set a $160.00 price target on shares of Seagen in a research note on Monday, September 20th. SVB Leerink cut their price target on Seagen from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 22nd. Royal Bank of Canada lifted their price target on Seagen from $148.00 to $154.00 and gave the company a “sector perform” rating in a research note on Monday, September 27th. Finally, Morgan Stanley cut their price target on Seagen from $173.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Friday, July 16th.

In other Seagen news, insider Roger D. Dansey sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $156.59, for a total value of $1,565,900.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Vaughn B. Himes sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 8th. The shares were sold at an average price of $150.00, for a total value of $900,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,563 shares of company stock worth $17,469,013. 27.60% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. AllSquare Wealth Management LLC boosted its position in Seagen by 56.3% in the second quarter. AllSquare Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 72 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Seagen by 3.7% during the 2nd quarter. Exchange Traded Concepts LLC now owns 2,049 shares of the biotechnology company’s stock valued at $323,000 after buying an additional 74 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Seagen by 2.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,871 shares of the biotechnology company’s stock valued at $611,000 after buying an additional 75 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Seagen by 9.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 911 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 77 shares during the last quarter. Finally, Cedar Brook Financial Partners LLC lifted its position in shares of Seagen by 4.9% during the 2nd quarter. Cedar Brook Financial Partners LLC now owns 1,753 shares of the biotechnology company’s stock valued at $277,000 after buying an additional 82 shares during the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Seagen stock traded up $2.24 during midday trading on Monday, reaching $170.10. The company’s stock had a trading volume of 2,243 shares, compared to its average volume of 919,388. Seagen has a 52 week low of $133.20 and a 52 week high of $212.82. The business has a 50-day moving average price of $160.93 and a 200-day moving average price of $152.81. The stock has a market cap of $30.95 billion, a PE ratio of 51.49 and a beta of 0.82.

Seagen (NASDAQ:SGEN) last released its earnings results on Thursday, July 29th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.14. Seagen had a return on equity of 19.02% and a net margin of 25.06%. The firm had revenue of $388.48 million for the quarter, compared to analysts’ expectations of $355.62 million. Research analysts anticipate that Seagen will post -2.33 EPS for the current fiscal year.

Seagen Company Profile

Seagen Inc is a biotechnology company, which engages in the development and commercialization of antibody-based therapies for the treatment of cancer. Its products include Adcetris and Padcev. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers. The company was founded by Clay B.

Featured Article: Growth and Income Funds

Analyst Recommendations for Seagen (NASDAQ:SGEN)

Receive News & Ratings for Seagen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagen and related companies with MarketBeat.com's FREE daily email newsletter.