Shares of Seagen Inc. (NASDAQ:SGEN) have been assigned a consensus recommendation of “Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $181.90.
Several analysts recently weighed in on the company. Piper Sandler restated a “hold” rating and set a $160.00 target price on shares of Seagen in a research note on Monday, September 20th. Royal Bank of Canada raised their price objective on shares of Seagen from $148.00 to $154.00 and gave the stock a “sector perform” rating in a research note on Monday, September 27th. Morgan Stanley cut 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 note on Friday, July 16th. Finally, SVB Leerink cut their target price on shares of Seagen from $192.00 to $190.00 and set an “outperform” rating for the company in a research note on Wednesday, September 22nd.
SGEN traded up $2.24 during midday trading on Monday, hitting $170.10. 2,243 shares of the company’s stock traded hands, compared to its average volume of 919,388. Seagen has a one year low of $133.20 and a one year high of $212.82. The company has a market cap of $30.95 billion, a PE ratio of 51.49 and a beta of 0.82. The stock’s fifty day simple moving average is $160.93 and its 200-day simple moving average is $152.81.
In other Seagen news, CEO Clay B. Siegall sold 23,560 shares of the stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $163.08, for a total transaction of $3,842,164.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Vaughn B. Himes sold 658 shares of the firm’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $154.55, for a total transaction of $101,693.90. The disclosure for this sale can be found here. Insiders have sold a total of 106,563 shares of company stock valued at $17,469,013 in the last quarter. 27.60% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Seagen in the 2nd quarter valued at approximately $28,000. Assetmark Inc. acquired a new stake in shares of Seagen in the 1st quarter valued at approximately $26,000. AllSquare Wealth Management LLC raised its position in shares of Seagen by 56.3% in the 2nd quarter. AllSquare Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 72 shares during the period. KB Financial Partners LLC acquired a new stake in shares of Seagen in the 1st quarter valued at approximately $32,000. Finally, Berman Capital Advisors LLC raised its position in shares of Seagen by 39.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 443 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 88.20% of the company’s stock.
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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