JMP Securities Lowers Seagen (NASDAQ:SGEN) to Market Perform

JMP Securities lowered shares of Seagen (NASDAQ:SGEN – Get Rating) from an outperform rating to a market perform rating in a report published on Tuesday morning, The Fly reports.

A number of other equities research analysts also recently weighed in on the stock. Oppenheimer raised their target price on shares of Seagen from $180.00 to $210.00 and gave the company an outperform rating in a research note on Tuesday, February 28th. TheStreet raised shares of Seagen from a d+ rating to a c- rating in a research note on Wednesday, February 22nd. SVB Securities downgraded shares of Seagen from an outperform rating to a market perform rating and lowered their target price for the company from $162.00 to $141.00 in a research note on Monday, February 6th. Raymond James cut shares of Seagen from a strong-buy rating to a market perform rating in a research report on Monday. Finally, Royal Bank of Canada increased their price target on shares of Seagen from $145.00 to $155.00 and gave the company an outperform rating in a research report on Thursday, February 16th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $181.06.

Seagen Trading Up 1.1 %

Shares of Seagen stock opened at $199.84 on Tuesday. Seagen has a 12-month low of $105.43 and a 12-month high of $202.86. The company has a market cap of $37.33 billion, a price-to-earnings ratio of -60.56 and a beta of 0.53. The company’s 50-day moving average price is $148.67 and its 200-day moving average price is $139.02.

Seagen (NASDAQ:SGEN – Get Rating) last announced its earnings results on Wednesday, February 15th. The biotechnology company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.22. The business had revenue of $528.20 million for the quarter, compared to the consensus estimate of $479.81 million. Seagen had a negative net margin of 31.10% and a negative return on equity of 21.13%. Seagen’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted ($0.95) earnings per share. On average, sell-side analysts predict that Seagen will post -2.99 earnings per share for the current year.

Insider Transactions at Seagen

In related news, EVP Charles R. Romp sold 1,129 shares of Seagen stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $127.63, for a total value of $144,094.27. Following the sale, the executive vice president now owns 58,475 shares in the company, valued at $7,463,164.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Jean I. Liu sold 4,525 shares of Seagen stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $135.00, for a total value of $610,875.00. Following the sale, the insider now owns 85,691 shares in the company, valued at $11,568,285. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles R. Romp sold 1,129 shares of Seagen stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $127.63, for a total transaction of $144,094.27. Following the completion of the sale, the executive vice president now owns 58,475 shares in the company, valued at approximately $7,463,164.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,254 shares of company stock worth $22,351,263. Insiders own 27.30% of the company’s stock.

Institutional Trading of Seagen

Large investors have recently added to or reduced their stakes in the stock. Cigna Investments Inc. New lifted its position in Seagen by 5.0% during the second quarter. Cigna Investments Inc. New now owns 1,519 shares of the biotechnology company’s stock valued at $269,000 after buying an additional 73 shares during the period. Commerce Bank lifted its position in Seagen by 1.8% during the second quarter. Commerce Bank now owns 4,498 shares of the biotechnology company’s stock valued at $796,000 after buying an additional 80 shares during the period. Toroso Investments LLC lifted its position in Seagen by 2.8% during the third quarter. Toroso Investments LLC now owns 3,047 shares of the biotechnology company’s stock valued at $417,000 after buying an additional 82 shares during the period. Baird Financial Group Inc. lifted its position in Seagen by 0.4% during the first quarter. Baird Financial Group Inc. now owns 20,977 shares of the biotechnology company’s stock valued at $3,022,000 after buying an additional 82 shares during the period. Finally, HighTower Advisors LLC lifted its position in Seagen by 5.8% during the first quarter. HighTower Advisors LLC now owns 1,538 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 84 shares during the period. Institutional investors own 86.25% of the company’s stock.

Seagen Company Profile

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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.