Seagen (NASDAQ:SGEN) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Seagen (NASDAQ:SGEN – Get Rating) from a hold rating to a buy rating in a research report sent to investors on Friday.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Seagen from $136.00 to $179.00 in a research note on Friday, July 29th. HC Wainwright lifted their price objective on shares of Seagen from $170.00 to $200.00 and gave the stock a buy rating in a research note on Wednesday, July 27th. BMO Capital Markets began coverage on shares of Seagen in a research note on Thursday, June 23rd. They issued a market perform rating and a $169.00 price objective for the company. Oppenheimer boosted their target price on shares of Seagen from $160.00 to $208.00 and gave the company an outperform rating in a research report on Tuesday, June 21st. Finally, SVB Leerink boosted their target price on shares of Seagen from $155.00 to $159.00 and gave the company an outperform rating in a research report on Monday, June 6th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $179.64.

Seagen Stock Down 0.0 %

Shares of SGEN stock opened at $175.81 on Friday. The company has a 50-day simple moving average of $165.83 and a 200 day simple moving average of $146.12. Seagen has a 52 week low of $105.43 and a 52 week high of $192.79.

Seagen (NASDAQ:SGEN – Get Rating) last announced its earnings results on Thursday, July 28th. The biotechnology company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.09. Seagen had a negative net margin of 41.61% and a negative return on equity of 24.33%. The business had revenue of $497.50 million during the quarter, compared to the consensus estimate of $437.77 million. During the same quarter in the previous year, the firm posted ($0.47) EPS. Seagen’s revenue was up 28.1% compared to the same quarter last year. Equities research analysts predict that Seagen will post -3.42 earnings per share for the current year.

Insider Buying and Selling

In other Seagen news, insider Vaughn B. Himes sold 10,866 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $136.79, for a total transaction of $1,486,360.14. Following the sale, the insider now directly owns 59,064 shares of the company’s stock, valued at approximately $8,079,364.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Seagen news, insider Vaughn B. Himes sold 10,866 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $136.79, for a total transaction of $1,486,360.14. Following the sale, the insider now directly owns 59,064 shares of the company’s stock, valued at approximately $8,079,364.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles R. Romp sold 712 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $179.46, for a total transaction of $127,775.52. Following the sale, the executive vice president now directly owns 48,771 shares in the company, valued at $8,752,443.66. The disclosure for this sale can be found here. Insiders sold a total of 64,723 shares of company stock worth $10,216,702 in the last three months. 27.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Seagen

A number of institutional investors have recently modified their holdings of SGEN. Janney Montgomery Scott LLC boosted its stake in shares of Seagen by 5.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 13,389 shares of the biotechnology company’s stock valued at $2,070,000 after purchasing an additional 732 shares during the last quarter. Yousif Capital Management LLC bought a new stake in shares of Seagen in the 4th quarter valued at $293,000. Dupont Capital Management Corp boosted its stake in shares of Seagen by 92.5% in the 4th quarter. Dupont Capital Management Corp now owns 824 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 396 shares during the last quarter. CWM LLC bought a new stake in shares of Seagen in the 4th quarter valued at $1,722,000. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of Seagen in the 4th quarter valued at $599,000. 90.37% of the stock is owned by institutional investors.

About Seagen

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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.