Seagen (NASDAQ:SGEN) Research Coverage Started at BMO Capital Markets

Research analysts at BMO Capital Markets assumed coverage on shares of Seagen (NASDAQ:SGENGet Rating) in a research report issued on Thursday, The Fly reports. The firm set a “market perform” rating on the biotechnology company’s stock.

SGEN has been the topic of a number of other reports. Oppenheimer increased their target price on Seagen from $160.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday. StockNews.com began coverage on Seagen in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JMP Securities reaffirmed a “buy” rating and set a $157.00 price target on shares of Seagen in a report on Wednesday, June 8th. Morgan Stanley upped their price target on Seagen from $170.00 to $173.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Finally, SVB Leerink upped their price target on Seagen from $155.00 to $159.00 and gave the company an “outperform” rating in a report on Monday, June 6th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $164.55.

SGEN stock traded up $4.34 during midday trading on Thursday, hitting $174.00. The stock had a trading volume of 44,580 shares, compared to its average volume of 1,532,640. The firm has a market cap of $32.03 billion, a price-to-earnings ratio of -46.15 and a beta of 0.85. The business has a 50-day moving average of $139.65 and a two-hundred day moving average of $139.95. Seagen has a 52-week low of $105.43 and a 52-week high of $192.79.

Seagen (NASDAQ:SGENGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The biotechnology company reported ($0.74) earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $401.75 million. During the same period in the prior year, the firm earned ($0.67) earnings per share. The firm’s revenue for the quarter was up 28.5% on a year-over-year basis. Equities research analysts expect that Seagen will post -3.5 EPS for the current year.

In other Seagen news, EVP Charles R. Romp sold 319 shares of the company’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 $46,038.08. Following the completion of the sale, the executive vice president now owns 49,816 shares in the company, valued at $7,189,445.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Vaughn B. Himes sold 1,134 shares of the company’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $160.00, for a total value of $181,440.00. Following the completion of the sale, the insider now owns 119,471 shares of the company’s stock, valued at approximately $19,115,360. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,591 shares of company stock valued at $7,516,752. Company insiders own 27.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital International Investors lifted its stake in shares of Seagen by 34.3% in the 1st quarter. Capital International Investors now owns 15,465,358 shares of the biotechnology company’s stock valued at $2,227,185,000 after purchasing an additional 3,953,818 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Seagen by 2.7% in the 1st quarter. BlackRock Inc. now owns 13,704,355 shares of the biotechnology company’s stock valued at $1,974,113,000 after purchasing an additional 362,602 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Seagen by 7.2% in the 1st quarter. Wellington Management Group LLP now owns 12,476,025 shares of the biotechnology company’s stock valued at $1,797,170,000 after purchasing an additional 839,088 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Seagen by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 12,279,156 shares of the biotechnology company’s stock valued at $1,768,813,000 after purchasing an additional 139,117 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Seagen by 0.7% in the 1st quarter. State Street Corp now owns 3,525,411 shares of the biotechnology company’s stock valued at $507,835,000 after purchasing an additional 24,853 shares during the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.

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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