SVB Leerink Raises Seagen (NASDAQ:SGEN) Price Target to $159.00

Seagen (NASDAQ:SGENGet Rating) had its target price upped by equities research analysts at SVB Leerink from $155.00 to $159.00 in a research report issued on Monday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. SVB Leerink’s price target would suggest a potential upside of 13.62% from the company’s previous close.

A number of other research analysts also recently commented on SGEN. Morgan Stanley lifted their price objective on shares of Seagen from $170.00 to $173.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. HC Wainwright dropped their target price on shares of Seagen from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, February 10th. Royal Bank of Canada reduced their target price on shares of Seagen from $154.00 to $132.00 and set a “sector perform” rating on the stock in a report on Thursday, February 10th. StockNews.com initiated coverage on shares of Seagen in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Stifel Nicolaus cut their target price on shares of Seagen from $180.00 to $145.00 in a research report on Thursday, February 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $162.67.

NASDAQ SGEN opened at $139.94 on Monday. The stock has a market cap of $25.76 billion, a P/E ratio of -37.12 and a beta of 0.85. Seagen has a twelve month low of $105.43 and a twelve month high of $192.79. The company’s 50-day simple moving average is $138.66 and its 200 day simple moving average is $141.08.

Seagen (NASDAQ:SGENGet Rating) last posted its earnings results on Thursday, April 28th. The biotechnology company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.24. Seagen had a negative net margin of 41.32% and a negative return on equity of 21.86%. The company had revenue of $426.50 million for the quarter, compared to analyst estimates of $401.75 million. During the same period last year, the business posted ($0.67) earnings per share. The business’s revenue for the quarter was up 28.5% compared to the same quarter last year. As a group, equities analysts predict that Seagen will post -3.51 EPS for the current year.

In related news, EVP Charles R. Romp sold 319 shares of the company’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $144.32, for a total value of $46,038.08. Following the completion of the sale, the executive vice president now directly owns 49,816 shares of the company’s stock, valued at approximately $7,189,445.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Clay B. Siegall sold 17,043 shares of the company’s stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $154.23, for a total value of $2,628,541.89. Following the sale, the chief executive officer now directly owns 667,945 shares of the company’s stock, valued at $103,017,157.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,457 shares of company stock valued at $7,335,312. Company insiders own 27.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. UBS Group AG raised its holdings in shares of Seagen by 155.1% during the third quarter. UBS Group AG now owns 154,418 shares of the biotechnology company’s stock valued at $26,220,000 after buying an additional 93,897 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Seagen by 13.2% in the fourth quarter. CIBC Asset Management Inc now owns 27,800 shares of the biotechnology company’s stock worth $4,298,000 after purchasing an additional 3,246 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Seagen during the 4th quarter worth $414,000. Alpha Paradigm Partners LLC acquired a new position in shares of Seagen during the fourth quarter valued at about $90,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Seagen by 21.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,467 shares of the biotechnology company’s stock valued at $536,000 after buying an additional 609 shares during the last quarter. Institutional investors and hedge funds 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.

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