Seagen (NASDAQ:SGEN) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Seagen (NASDAQ:SGEN – Get Rating) in a note issued to investors on Saturday. The brokerage set a “hold” rating on the biotechnology company’s stock.

SGEN has been the topic of a number of other research reports. Guggenheim reiterated a “buy” rating and issued a $170.00 price objective on shares of Seagen in a report on Tuesday, February 28th. SVB Securities upped their target price on shares of Seagen from $141.00 to $229.00 in a research note on Tuesday, March 14th. Evercore ISI upgraded Seagen from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $140.00 to $175.00 in a research note on Thursday, February 16th. Berenberg Bank downgraded Seagen from a “buy” rating to a “hold” rating in a report on Friday, March 24th. Finally, TD Securities lowered their target price on shares of Seagen from $145.00 to $129.00 and set a “market perform” rating for the company in a research note on Tuesday, March 21st. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $190.47.

Seagen Stock Down 0.5 %

Shares of NASDAQ:SGEN opened at $193.49 on Friday. The company has a market cap of $36.28 billion, a P/E ratio of -55.44 and a beta of 0.54. The business has a fifty day simple moving average of $200.40 and a 200-day simple moving average of $162.13. Seagen has a 52 week low of $116.08 and a 52 week high of $207.16.

Seagen (NASDAQ:SGEN – Get Rating) last released its earnings results on Thursday, April 27th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.11). Seagen had a negative return on equity of 23.00% and a negative net margin of 31.55%. The company had revenue of $519.70 million during the quarter, compared to analyst estimates of $516.28 million. During the same period in the prior year, the business posted ($0.74) earnings per share. Seagen’s revenue was up 21.9% on a year-over-year basis. Sell-side analysts expect that Seagen will post -2.96 earnings per share for the current fiscal year.

Insider Activity at Seagen

In other Seagen news, EVP Charles R. Romp sold 349 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $189.86, for a total transaction of $66,261.14. Following the sale, the executive vice president now owns 59,777 shares in the company, valued at approximately $11,349,261.22. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Seagen news, EVP Charles R. Romp sold 349 shares of Seagen stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $189.86, for a total transaction of $66,261.14. Following the transaction, the executive vice president now owns 59,777 shares of the company’s stock, valued at approximately $11,349,261.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Todd E. Simpson sold 55,344 shares of the company’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $204.58, for a total transaction of $11,322,275.52. Following the completion of the transaction, the chief financial officer now owns 118,946 shares in the company, valued at approximately $24,333,972.68. The disclosure for this sale can be found here. Insiders sold 175,924 shares of company stock worth $34,209,784 in the last quarter. 25.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SGEN. KB Financial Partners LLC bought a new position in shares of Seagen during the 1st quarter worth about $25,000. Guardian Wealth Advisors LLC acquired a new position in shares of Seagen in the 3rd quarter worth approximately $26,000. OLD Mission Capital LLC bought a new position in Seagen in the 4th quarter valued at $28,000. Corrado Advisors LLC bought a new stake in shares of Seagen during the fourth quarter worth $32,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Seagen by 622.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 260 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 224 shares during 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.