BMO Capital Markets Reiterates Market Perform Rating for Seagen (NASDAQ:SGEN)

Seagen (NASDAQ:SGEN – Get Rating)‘s stock had its “market perform” rating reaffirmed by equities researchers at BMO Capital Markets in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $229.00 price objective on the biotechnology company’s stock, up from their prior price objective of $179.00. BMO Capital Markets’ price objective would indicate a potential upside of 14.53% from the stock’s current price.

Several other equities research analysts also recently commented on SGEN. SVB Securities boosted their target price on shares of Seagen from $141.00 to $229.00 in a research note on Tuesday. TheStreet upgraded shares of Seagen from a “d+” rating to a “c-” rating in a research note on Wednesday, February 22nd. Evercore ISI upgraded shares of Seagen from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $140.00 to $175.00 in a research note on Thursday, February 16th. Oppenheimer upped their price target on shares of Seagen from $210.00 to $229.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Guggenheim reissued a “buy” rating and set a $170.00 price objective on shares of Seagen in a report on Tuesday, February 28th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Seagen has a consensus rating of “Hold” and an average price target of $187.29.

Seagen Price Performance

SGEN opened at $199.94 on Tuesday. Seagen has a fifty-two week low of $105.43 and a fifty-two week high of $202.86. The firm’s fifty day moving average price is $150.09 and its two-hundred day moving average price is $139.34. The company has a market capitalization of $37.35 billion, a P/E ratio of -60.53 and a beta of 0.53.

Seagen (NASDAQ:SGEN – Get Rating) last issued its earnings results on Wednesday, February 15th. The biotechnology company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.22. Seagen had a negative net margin of 31.10% and a negative return on equity of 21.13%. The company had revenue of $528.20 million for the quarter, compared to the consensus estimate of $479.81 million. During the same quarter in the previous year, the company earned ($0.95) EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, equities research analysts expect that Seagen will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling at Seagen

In other Seagen news, CFO Todd E. Simpson sold 39,946 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $160.00, for a total value of $6,391,360.00. Following the transaction, the chief financial officer now directly owns 137,185 shares of the company’s stock, valued at $21,949,600. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Seagen news, CFO Todd E. Simpson sold 39,946 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $160.00, for a total value of $6,391,360.00. Following the transaction, the chief financial officer now directly owns 137,185 shares of the company’s stock, valued at $21,949,600. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Todd E. Simpson sold 42,793 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $7,557,671.73. Following the completion of the transaction, the chief financial officer now directly owns 117,185 shares in the company, valued at $20,696,042.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,254 shares of company stock valued at $22,351,263. 27.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Seagen

Hedge funds and other institutional investors have recently made changes to their positions in the company. AXA S.A. boosted its position in shares of Seagen by 0.4% during the third quarter. AXA S.A. now owns 107,173 shares of the biotechnology company’s stock worth $14,665,000 after purchasing an additional 428 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of Seagen during the third quarter worth $493,000. Great West Life Assurance Co. Can bought a new position in shares of Seagen during the third quarter worth $9,500,000. Knights of Columbus Asset Advisors LLC boosted its position in shares of Seagen by 12.5% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 15,790 shares of the biotechnology company’s stock worth $2,161,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Ethic Inc. boosted its position in shares of Seagen by 6.4% during the third quarter. Ethic Inc. now owns 2,312 shares of the biotechnology company’s stock worth $316,000 after purchasing an additional 140 shares in the last quarter. 86.25% of the stock is owned by institutional investors.

About Seagen

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Seagen Inc is a biotechnology company, which engages in the development and commercialization of targeted therapies for the treatment of cancer. It also engages in the advancement of therapies for solid tumors and blood-related cancers. Its products include Adcetris, Padcev, Tivdak, and Tukysa. The company was founded by Clay B.