Seagen Inc. (NASDAQ:SGEN) Given Average Rating of “Buy” by Analysts

Shares of Seagen Inc. (NASDAQ:SGENGet Rating) have been assigned a consensus recommendation of “Hold” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $161.62.

A number of equities analysts have recently commented on SGEN shares. Morgan Stanley raised their price target on Seagen from $170.00 to $173.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. HC Wainwright cut their price target on Seagen from $200.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, February 10th. SVB Leerink cut their price target on Seagen from $179.00 to $155.00 and set an “outperform” rating for the company in a report on Thursday, February 10th. JMP Securities reaffirmed a “buy” rating and issued a $157.00 price target on shares of Seagen in a report on Monday, April 18th. Finally, TheStreet lowered Seagen from a “c-” rating to a “d+” rating in a report on Monday, February 7th.

Shares of NASDAQ SGEN opened at $130.23 on Friday. The stock has a fifty day simple moving average of $139.09 and a two-hundred day simple moving average of $149.66. Seagen has a 1-year low of $117.46 and a 1-year high of $192.79. The firm has a market cap of $23.94 billion, a price-to-earnings ratio of -35.20 and a beta of 0.83.

Seagen (NASDAQ:SGENGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The biotechnology company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.96) by $0.22. Seagen had a negative return on equity of 20.68% and a negative net margin of 42.84%. The business had revenue of $426.50 million during the quarter, compared to analyst estimates of $401.75 million. During the same period in the prior year, the company earned ($0.67) earnings per share. Seagen’s revenue was up 28.5% compared to the same quarter last year. On average, equities research analysts anticipate that Seagen will post -3.68 earnings per share for the current fiscal year.

In other news, insider Roger D. Dansey sold 739 shares of the firm’s stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $137.58, for a total transaction of $101,671.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vaughn B. Himes sold 12,000 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $127.05, for a total value of $1,524,600.00. The disclosure for this sale can be found here. Insiders have sold 75,540 shares of company stock worth $10,588,052 in the last 90 days. Company insiders own 27.30% of the company’s stock.

Several large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in shares of Seagen in the fourth quarter worth about $32,000. Leverty Financial Group LLC bought a new stake in shares of Seagen in the fourth quarter worth about $35,000. KB Financial Partners LLC bought a new stake in shares of Seagen in the fourth quarter worth about $38,000. Covestor Ltd bought a new stake in shares of Seagen in the fourth quarter worth about $50,000. Finally, McIlrath & Eck LLC grew its stake in shares of Seagen by 438.7% in the third quarter. McIlrath & Eck LLC now owns 334 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 272 shares during the last quarter. 89.54% of the stock is currently owned by hedge funds and other institutional investors.

Seagen Company Profile (Get Rating)

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company offers ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas; PADCEV, an ADC targeting Nectin-4 for the treatment of advanced or metastatic urothelial cancer; and TUKYSA, an oral small molecule tyrosine kinase inhibitor for the treatment of adult patients with advanced unresectable or metastatic HER2-positive breast cancer.

Further Reading

Analyst Recommendations for Seagen (NASDAQ:SGEN)

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