Seagen Inc. (NASDAQ:SGEN) Receives Average Rating of “Hold” from Analysts

Shares of Seagen Inc. (NASDAQ:SGEN) have earned a consensus recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $190.47.

Several brokerages have commented on SGEN. StockNews.com began coverage on shares of Seagen in a research report on Saturday. They issued a “hold” rating for the company. Morgan Stanley reiterated an “equal weight” rating and set a $229.00 target price on shares of Seagen in a research note on Thursday, August 3rd.

Insider Activity

In other news, insider Vaughn B. Himes sold 8,785 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $205.76, for a total value of $1,807,601.60. Following the completion of the sale, the insider now directly owns 51,439 shares of the company’s stock, valued at $10,584,088.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Vaughn B. Himes sold 371 shares of the stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $206.00, for a total transaction of $76,426.00. Following the completion of the sale, the insider now directly owns 53,234 shares of the company’s stock, valued at $10,966,204. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vaughn B. Himes sold 8,785 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $205.76, for a total value of $1,807,601.60. Following the sale, the insider now directly owns 51,439 shares of the company’s stock, valued at $10,584,088.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,619 shares of company stock valued at $4,872,275. 25.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seagen

Hedge funds have recently modified their holdings of the stock. KB Financial Partners LLC acquired a new stake in shares of Seagen during the first quarter worth $25,000. Private Trust Co. NA lifted its holdings in shares of Seagen by 87.1% during the second quarter. Private Trust Co. NA now owns 131 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 61 shares during the period. Parallel Advisors LLC raised its position in Seagen by 61.6% in the first quarter. Parallel Advisors LLC now owns 181 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 69 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Seagen in the second quarter valued at $375,000. Finally, Lindbrook Capital LLC lifted its holdings in Seagen by 79.8% in the first quarter. Lindbrook Capital LLC now owns 196 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 87 shares during the period. 84.26% of the stock is owned by institutional investors and hedge funds.

Seagen Stock Up 0.9 %

Shares of SGEN stock opened at $208.40 on Monday. Seagen has a 52 week low of $116.08 and a 52 week high of $210.50. The stock has a market capitalization of $39.12 billion, a PE ratio of -53.57 and a beta of 0.48. The firm has a 50 day moving average of $198.20 and a two-hundred day moving average of $197.40.

Seagen (NASDAQ:SGEN) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.35). Seagen had a negative net margin of 33.54% and a negative return on equity of 26.46%. The business had revenue of $603.83 million during the quarter, compared to analysts’ expectations of $555.68 million. Analysts expect that Seagen will post -3.4 EPS for the current fiscal year.

Seagen Company Profile

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. It 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 adult patients with 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.