Seagen Inc. (NASDAQ:SGEN) Receives $160.36 Consensus Price Target from Analysts

Seagen Inc. (NASDAQ:SGENGet Rating) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $164.55.

Several analysts recently issued reports on SGEN shares. StockNews.com initiated coverage on Seagen in a report on Thursday, March 31st. They issued a “hold” rating on the stock. JMP Securities reissued a “buy” rating and set a $157.00 target price on shares of Seagen in a report on Wednesday, June 8th. Morgan Stanley boosted their price target on shares of Seagen from $170.00 to $173.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Oppenheimer increased their price objective on Seagen from $160.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, SVB Leerink increased their price target on Seagen from $155.00 to $159.00 and gave the company an “outperform” rating in a research report on Monday, June 6th.

Shares of SGEN opened at $169.66 on Friday. The stock’s 50-day moving average is $139.65 and its two-hundred day moving average is $139.95. The stock has a market cap of $31.23 billion, a PE ratio of -45.00 and a beta of 0.85. Seagen has a 12 month low of $105.43 and a 12 month high of $192.79.

Seagen (NASDAQ:SGENGet Rating) last released its earnings results on Thursday, April 28th. The biotechnology company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.24. The company had revenue of $426.50 million during the quarter, compared to analysts’ expectations of $401.75 million. Seagen had a negative return on equity of 21.86% and a negative net margin of 41.32%. The business’s revenue was up 28.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.67) EPS. As a group, analysts predict that Seagen will post -3.5 EPS for the current year.

In other news, insider Vaughn B. Himes sold 1,134 shares of the firm’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $160.00, for a total transaction of $181,440.00. Following the completion of the sale, the insider now directly owns 119,471 shares of the company’s stock, valued at approximately $19,115,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vaughn B. Himes sold 10,866 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $136.79, for a total value of $1,486,360.14. Following the completion of the sale, the insider now directly owns 59,064 shares of the company’s stock, valued at approximately $8,079,364.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,591 shares of company stock valued at $7,516,752. Insiders own 27.30% of the company’s stock.

A number of large investors have recently modified their holdings of SGEN. EverSource Wealth Advisors LLC acquired a new stake in shares of Seagen in the fourth quarter worth about $32,000. Achmea Investment Management B.V. bought a new stake in Seagen during the first quarter worth approximately $33,000. Leverty Financial Group LLC acquired a new position in Seagen during the fourth quarter valued at approximately $35,000. BerganKDV Wealth Management LLC grew its holdings in Seagen by 256.6% during the first quarter. BerganKDV Wealth Management LLC now owns 271 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 195 shares during the last quarter. Finally, Covestor Ltd bought a new position in shares of Seagen in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 90.37% of the company’s stock.

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.

Read More

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.