Seagen (NASDAQ:SGEN) Stock Rating Reaffirmed by JMP Securities

Posted by on Jun 8th, 2022

Seagen (NASDAQ:SGEN – Get Rating)‘s stock had its “buy” rating reissued by equities researchers at JMP Securities in a research report issued on Wednesday, TipRanks reports. They currently have a $157.00 price objective on the biotechnology company’s stock. JMP Securities’ target price suggests a potential upside of 8.06% from the stock’s current price.

Several other research firms also recently issued reports on SGEN. Bank of America cut their price objective on Seagen from $210.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, February 10th. StockNews.com initiated coverage on Seagen in a report on Thursday, March 31st. They issued a “hold” rating on the stock. HC Wainwright cut their price objective on Seagen from $200.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, February 10th. SVB Leerink boosted their price objective on Seagen from $155.00 to $159.00 and gave the company an “outperform” rating in a report on Monday. Finally, Oppenheimer cut their price objective on Seagen from $198.00 to $162.00 in a report on Friday, February 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Seagen has an average rating of “Buy” and an average target price of $162.67.

NASDAQ:SGEN traded up $0.93 on Wednesday, reaching $145.29. The company’s stock had a trading volume of 4,585 shares, compared to its average volume of 1,250,004. Seagen has a 12-month low of $105.43 and a 12-month high of $192.79. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of -38.55 and a beta of 0.85. The stock has a 50 day moving average price of $138.74 and a 200 day moving average price of $140.82.

Seagen (NASDAQ:SGEN – Get Rating) last posted its earnings results on Thursday, April 28th. The biotechnology company reported ($0.74) EPS for the quarter, beating 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 the consensus estimate of $401.75 million. During the same quarter in the previous year, the business earned ($0.67) earnings per share. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. Research analysts anticipate that Seagen will post -3.51 earnings per share for the current fiscal year.

In other news, insider Jean I. Liu sold 401 shares of the business’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 $57,872.32. Following the completion of the sale, the insider now directly owns 75,946 shares of the company’s stock, valued at approximately $10,960,526.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles R. Romp sold 319 shares of the business’s stock in a transaction dated Wednesday, April 20th. The shares were 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 $7,189,445.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,457 shares of company stock valued at $7,335,312. Insiders own 27.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. raised its stake in Seagen by 11.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 192,129 shares of the biotechnology company’s stock valued at $14,072,000 after acquiring an additional 19,394 shares during the last quarter. American Century Companies Inc. raised its stake in Seagen by 10.2% during the 3rd quarter. American Century Companies Inc. now owns 3,109 shares of the biotechnology company’s stock valued at $528,000 after acquiring an additional 289 shares during the last quarter. Natixis purchased a new stake in Seagen during the 3rd quarter valued at approximately $709,000. HighTower Advisors LLC purchased a new stake in Seagen during the 3rd quarter valued at approximately $215,000. Finally, Dimensional Fund Advisors LP raised its stake in Seagen by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 273,065 shares of the biotechnology company’s stock valued at $46,354,000 after acquiring an additional 6,414 shares during the last quarter. 90.37% of the stock is owned by institutional investors and hedge funds.

About Seagen (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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Analyst Recommendations for Seagen (NASDAQ:SGEN)

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