Brokerages Set Seagen Inc. (NASDAQ:SGEN) Target Price at $184.75

Seagen Inc. (NASDAQ:SGEN) has been given a consensus rating of “Buy” by the fifteen brokerages that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $186.36.

SGEN has been the topic of a number of recent research reports. Piper Sandler reaffirmed a “hold” rating and issued a $160.00 target price on shares of Seagen in a report on Monday. Morgan Stanley cut their target price on shares of Seagen from $173.00 to $167.00 and set an “equal weight” rating on the stock in a report on Friday, July 16th. Finally, SVB Leerink dropped their price objective on shares of Seagen from $192.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday.

Shares of Seagen stock traded down $2.94 during trading on Thursday, reaching $166.22. The company’s stock had a trading volume of 519,321 shares, compared to its average volume of 925,003. The company has a 50-day moving average price of $156.04 and a two-hundred day moving average price of $150.92. The firm has a market cap of $30.24 billion, a PE ratio of 50.99 and a beta of 0.82. Seagen has a fifty-two week low of $133.20 and a fifty-two week high of $213.94.

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

In related news, EVP Charles R. Romp sold 703 shares of the business’s stock in a transaction dated Friday, July 2nd. The shares were sold at an average price of $158.41, for a total value of $111,362.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Clay B. Siegall sold 15,268 shares of the business’s stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $156.36, for a total transaction of $2,387,304.48. The disclosure for this sale can be found here. Insiders have sold a total of 122,534 shares of company stock worth $19,967,680 over the last 90 days. Insiders own 27.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SGEN. Great West Life Assurance Co. Can lifted its holdings in Seagen by 6.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 62,700 shares of the biotechnology company’s stock valued at $8,647,000 after purchasing an additional 3,742 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its holdings in Seagen by 11.9% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 11,792 shares of the biotechnology company’s stock valued at $1,862,000 after purchasing an additional 1,256 shares in the last quarter. Northern Trust Corp lifted its holdings in Seagen by 1.2% in the 1st quarter. Northern Trust Corp now owns 858,828 shares of the biotechnology company’s stock valued at $119,257,000 after purchasing an additional 10,501 shares in the last quarter. JustInvest LLC lifted its holdings in Seagen by 38.9% in the 2nd quarter. JustInvest LLC now owns 2,960 shares of the biotechnology company’s stock valued at $467,000 after purchasing an additional 829 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Seagen by 35.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 63,644 shares of the biotechnology company’s stock valued at $10,048,000 after purchasing an additional 16,497 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

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.

Read More: What is the significance of the death cross?

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.