Seagen Inc. (NASDAQ:SGEN) Receives $185.00 Average PT from Brokerages

Shares of Seagen Inc. (NASDAQ:SGEN) have been given a consensus rating of “Buy” by the fourteen research firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $181.90.

A number of equities research analysts have recently issued reports on SGEN shares. Morgan Stanley reduced their target price on shares of Seagen from $173.00 to $167.00 and set an “equal weight” rating for the company in a research report on Friday, July 16th. Royal Bank of Canada boosted their target price on shares of Seagen from $148.00 to $154.00 and gave the company a “sector perform” rating in a research report on Monday, September 27th. SVB Leerink reduced their target price on shares of Seagen from $192.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, September 22nd. Finally, Piper Sandler reaffirmed a “hold” rating and issued a $160.00 price target on shares of Seagen in a research note on Monday, September 20th.

SGEN stock traded up $2.24 during midday trading on Monday, reaching $170.10. 2,243 shares of the company were exchanged, compared to its average volume of 919,388. The business has a 50-day moving average price of $160.93 and a two-hundred day moving average price of $152.81. Seagen has a one year low of $133.20 and a one year high of $212.82. The firm has a market capitalization of $30.95 billion, a price-to-earnings ratio of 51.49 and a beta of 0.82.

Seagen (NASDAQ:SGEN) last announced its earnings results on Thursday, July 29th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.14. The company had revenue of $388.48 million during 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%. On average, research analysts expect that Seagen will post -2.33 EPS for the current year.

In other news, CEO Clay B. Siegall sold 14,294 shares of Seagen stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $169.05, for a total transaction of $2,416,400.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vaughn B. Himes sold 6,000 shares of Seagen stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $150.00, for a total value of $900,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,563 shares of company stock worth $17,469,013. Company insiders own 27.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. AllSquare Wealth Management LLC lifted its stake in shares of Seagen by 56.3% in the second quarter. AllSquare Wealth Management LLC now owns 200 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 72 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Seagen by 3.7% in the second quarter. Exchange Traded Concepts LLC now owns 2,049 shares of the biotechnology company’s stock worth $323,000 after acquiring an additional 74 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Seagen by 2.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,871 shares of the biotechnology company’s stock worth $611,000 after acquiring an additional 75 shares during the period. Rockefeller Capital Management L.P. lifted its stake in shares of Seagen by 9.2% in the first quarter. Rockefeller Capital Management L.P. now owns 911 shares of the biotechnology company’s stock worth $126,000 after acquiring an additional 77 shares during the period. Finally, Cedar Brook Financial Partners LLC lifted its stake in shares of Seagen by 4.9% in the second quarter. Cedar Brook Financial Partners LLC now owns 1,753 shares of the biotechnology company’s stock worth $277,000 after acquiring an additional 82 shares during the period. 88.20% of the stock is currently owned by institutional investors.

About Seagen

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.

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Analyst Recommendations for Seagen (NASDAQ:SGEN)

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