Analysts Set Seagen Inc. (NASDAQ:SGEN) Target Price at $162.33

Seagen Inc. (NASDAQ:SGENGet Rating) has received an average recommendation of “Hold” from the fourteen brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $162.33.

A number of analysts recently commented on SGEN shares. TheStreet cut shares of Seagen from a “c-” rating to a “d+” rating in a research report on Monday, February 7th. JMP Securities reaffirmed a “buy” rating and issued a $157.00 target price on shares of Seagen in a research note on Monday, April 18th. Royal Bank of Canada reduced their target price on shares of Seagen from $154.00 to $132.00 and set a “sector perform” rating for the company in a research note on Thursday, February 10th. Needham & Company LLC reduced their target price on shares of Seagen from $254.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, February 7th. Finally, Stifel Nicolaus reduced their target price on shares of Seagen from $180.00 to $145.00 in a research note on Thursday, February 10th.

In other Seagen news, EVP Charles R. Romp sold 319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $144.32, for a total value of $46,038.08. Following the sale, the executive vice president now owns 49,816 shares in the company, valued at $7,189,445.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vaughn B. Himes sold 12,000 shares of Seagen stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $127.05, for a total transaction of $1,524,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 70,634 shares of company stock worth $9,663,279 in the last quarter. 27.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SGEN. Hsbc Holdings PLC increased its holdings in Seagen by 11.5% during the 3rd quarter. Hsbc Holdings PLC now owns 48,276 shares of the biotechnology company’s stock worth $8,150,000 after acquiring an additional 4,995 shares during the period. UBS Group AG boosted its holdings in shares of Seagen by 155.1% in the third quarter. UBS Group AG now owns 154,418 shares of the biotechnology company’s stock worth $26,220,000 after buying an additional 93,897 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Seagen by 13.2% in the fourth quarter. CIBC Asset Management Inc now owns 27,800 shares of the biotechnology company’s stock worth $4,298,000 after buying an additional 3,246 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Seagen by 21.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,467 shares of the biotechnology company’s stock valued at $536,000 after purchasing an additional 609 shares in the last quarter. Finally, Snider Financial Group increased its position in Seagen by 8.1% in the fourth quarter. Snider Financial Group now owns 13,510 shares of the biotechnology company’s stock worth $2,133,000 after purchasing an additional 1,014 shares during the last quarter. 90.37% of the stock is owned by hedge funds and other institutional investors.

SGEN opened at $139.34 on Tuesday. Seagen has a 12 month low of $105.43 and a 12 month high of $192.79. The company has a fifty day simple moving average of $139.37 and a 200 day simple moving average of $144.33. The stock has a market cap of $25.65 billion, a P/E ratio of -36.96 and a beta of 0.85.

Seagen (NASDAQ:SGENGet Rating) last released its quarterly earnings data on Thursday, April 28th. The biotechnology company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.24. Seagen had a negative net margin of 41.32% and a negative return on equity of 21.86%. The business had revenue of $426.50 million during the quarter, compared to analysts’ expectations of $401.75 million. During the same quarter in the prior year, the company earned ($0.67) EPS. The firm’s quarterly revenue was up 28.5% on a year-over-year basis. On average, research analysts predict that Seagen will post -3.51 earnings per share for the current year.

About Seagen (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.

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