Seagen Inc. (NASDAQ:SGEN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Seagen Inc. (NASDAQ:SGENGet Rating) has been given an average rating of “Moderate Buy” by the twenty brokerages that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $160.67.

A number of equities research analysts have recently issued reports on SGEN shares. Raymond James cut their target price on shares of Seagen from $220.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. SVB Leerink upped their target price on shares of Seagen from $152.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, September 13th. Truist Financial started coverage on shares of Seagen in a research note on Monday. They issued a “hold” rating and a $135.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Seagen from $194.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, October 24th. Finally, JMP Securities cut their target price on shares of Seagen from $196.00 to $142.00 and set a “market outperform” rating on the stock in a research note on Wednesday, November 2nd.

Insiders Place Their Bets

In other Seagen news, CEO Roger D. Dansey sold 10,000 shares of the company’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $135.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief executive officer now owns 97,539 shares in the company, valued at approximately $13,167,765. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Roger D. Dansey sold 10,000 shares of the stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $135.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief executive officer now directly owns 97,539 shares in the company, valued at $13,167,765. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David W. Gryska sold 7,500 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $129.10, for a total transaction of $968,250.00. Following the completion of the transaction, the director now owns 40,253 shares of the company’s stock, valued at $5,196,662.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,833 shares of company stock worth $3,410,290. Insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SGEN. Guardian Wealth Advisors LLC acquired a new stake in Seagen during the third quarter valued at approximately $26,000. Allworth Financial LP lifted its stake in Seagen by 1,053.8% during the second quarter. Allworth Financial LP now owns 150 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 137 shares during the last quarter. Glassman Wealth Services lifted its stake in Seagen by 80.6% during the second quarter. Glassman Wealth Services now owns 177 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 79 shares during the last quarter. Achmea Investment Management B.V. acquired a new stake in Seagen during the first quarter valued at approximately $33,000. Finally, Covington Capital Management acquired a new stake in Seagen during the second quarter valued at approximately $37,000. 88.21% of the stock is currently owned by institutional investors.

Seagen Stock Performance

NASDAQ:SGEN opened at $123.48 on Tuesday. Seagen has a twelve month low of $105.43 and a twelve month high of $183.00. The firm’s fifty day simple moving average is $133.79 and its 200 day simple moving average is $150.31.

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.

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Analyst Recommendations for Seagen (NASDAQ:SGEN)

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