Seagen (NASDAQ:SGEN) Now Covered by Analysts at StockNews.com

Posted by on May 3rd, 2023

Equities research analysts at StockNews.com initiated coverage on shares of Seagen (NASDAQ:SGEN – Get Rating) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the stock. 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, March 14th. Morgan Stanley lowered shares of Seagen from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $173.00 to $229.00 in a research report on Wednesday, March 15th. HC Wainwright restated a “buy” rating and set a $180.00 target price on shares of Seagen in a research report on Thursday, February 16th. Barclays upped their target price on shares of Seagen from $145.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 14th. Finally, Royal Bank of Canada upped their target price on shares of Seagen from $155.00 to $229.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 14th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Seagen has a consensus rating of “Hold” and an average target price of $190.47.

Seagen Price Performance

SGEN opened at $199.93 on Wednesday. The firm has a market cap of $37.41 billion, a P/E ratio of -57.29 and a beta of 0.54. Seagen has a 1-year low of $105.43 and a 1-year high of $207.16. The company has a 50 day simple moving average of $194.83 and a two-hundred day simple moving average of $154.12.

Seagen (NASDAQ:SGEN – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The biotechnology company reported ($0.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.11). The firm had revenue of $519.70 million during the quarter, compared to the consensus estimate of $516.28 million. Seagen had a negative return on equity of 22.74% and a negative net margin of 31.55%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.74) earnings per share. Equities analysts anticipate that Seagen will post -2.92 earnings per share for the current year.

Insider Activity

In related news, CMO Roger D. Dansey sold 783 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $138.52, for a total value of $108,461.16. Following the transaction, the chief marketing officer now owns 96,853 shares of the company’s stock, valued at approximately $13,416,077.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CMO Roger D. Dansey sold 783 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $138.52, for a total value of $108,461.16. Following the transaction, the chief marketing officer now owns 96,853 shares of the company’s stock, valued at approximately $13,416,077.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles R. Romp sold 133 shares of the firm’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $205.86, for a total transaction of $27,379.38. Following the completion of the transaction, the executive vice president now directly owns 60,126 shares in the company, valued at approximately $12,377,538.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 210,568 shares of company stock valued at $39,270,486. 27.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Yousif Capital Management LLC purchased a new position in Seagen during the 1st quarter valued at about $322,000. Pacer Advisors Inc. increased its position in Seagen by 99.8% during the 1st quarter. Pacer Advisors Inc. now owns 10,589 shares of the biotechnology company’s stock valued at $2,144,000 after purchasing an additional 5,289 shares during the period. Daiwa Securities Group Inc. increased its position in Seagen by 1.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 15,586 shares of the biotechnology company’s stock valued at $3,156,000 after purchasing an additional 227 shares during the period. Investment Advisory Group LLC purchased a new position in Seagen during the 1st quarter valued at about $213,000. Finally, Victory Capital Management Inc. increased its position in Seagen by 0.5% during the 1st quarter. Victory Capital Management Inc. now owns 132,567 shares of the biotechnology company’s stock valued at $26,841,000 after purchasing an additional 611 shares during the period. Hedge funds and other 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 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.

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