Seagen (NASDAQ:SGEN) PT Raised to $159.00 at SVB Leerink

Posted by on Jun 6th, 2022

Seagen (NASDAQ:SGEN – Get Rating) had its target price raised by SVB Leerink from $155.00 to $159.00 in a research report released on Monday morning, Stock Target Advisor reports. They currently have an outperform rating on the biotechnology company’s stock.

Several other research firms have also issued reports on SGEN. Morgan Stanley increased their target price on Seagen from $170.00 to $173.00 and gave the stock an overweight rating in a report on Tuesday, April 12th. TheStreet downgraded Seagen from a c- rating to a d+ rating in a research report on Monday, February 7th. Needham & Company LLC lowered their price objective on Seagen from $254.00 to $200.00 and set a buy rating for the company in a research report on Monday, February 7th. Piper Sandler decreased their target price on Seagen from $165.00 to $150.00 and set a neutral rating for the company in a research note on Thursday, February 10th. Finally, HC Wainwright decreased their target price on Seagen from $200.00 to $170.00 and set a buy rating for the company in a research note on Thursday, February 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $162.67.

Seagen stock opened at $139.94 on Monday. The business has a 50-day moving average of $138.66 and a 200-day moving average of $141.08. Seagen has a 1 year low of $105.43 and a 1 year high of $192.79. The firm has a market capitalization of $25.76 billion, a P/E ratio of -37.12 and a beta of 0.85.

Seagen (NASDAQ:SGEN – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.24. Seagen had a negative return on equity of 21.86% and a negative net margin of 41.32%. The company had revenue of $426.50 million for the quarter, compared to analysts’ expectations of $401.75 million. During the same quarter in the prior year, the business posted ($0.67) EPS. The business’s revenue was up 28.5% compared to the same quarter last year. On average, equities research analysts expect that Seagen will post -3.51 EPS for the current fiscal year.

In other news, CEO Clay B. Siegall sold 17,043 shares of the company’s stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $154.23, for a total value of $2,628,541.89. Following the completion of the transaction, the chief executive officer now directly owns 667,945 shares in the company, valued at approximately $103,017,157.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vaughn B. Himes sold 10,866 shares of the company’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $136.79, for a total value of $1,486,360.14. Following the completion of the transaction, the insider now owns 59,064 shares of the company’s stock, valued at $8,079,364.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,457 shares of company stock worth $7,335,312. 27.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Seagen by 11.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 192,129 shares of the biotechnology company’s stock worth $14,072,000 after buying an additional 19,394 shares during the last quarter. American Century Companies Inc. grew its position in Seagen by 10.2% in the third quarter. American Century Companies Inc. now owns 3,109 shares of the biotechnology company’s stock worth $528,000 after acquiring an additional 289 shares in the last quarter. Natixis purchased a new position in Seagen in the third quarter worth about $709,000. HighTower Advisors LLC purchased a new position in shares of Seagen during the third quarter valued at approximately $215,000. Finally, Franklin Resources Inc. boosted its position in shares of Seagen by 7.6% during the third quarter. Franklin Resources Inc. now owns 1,437,773 shares of the biotechnology company’s stock valued at $244,013,000 after buying an additional 101,325 shares during the period. 90.37% of the stock is owned by institutional investors and hedge funds.

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.

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