SVB Leerink Lowers Seagen (NASDAQ:SGEN) Price Target to $190.00

Seagen (NASDAQ:SGEN) had its target price decreased by SVB Leerink from $192.00 to $190.00 in a research report sent to investors on Wednesday, Analyst Price Targets reports. SVB Leerink currently has an outperform rating on the biotechnology company’s stock. SVB Leerink also issued estimates for Seagen’s Q3 2021 earnings at ($0.61) EPS, Q4 2021 earnings at ($0.69) EPS, FY2021 earnings at ($2.44) EPS, FY2022 earnings at $0.29 EPS, FY2023 earnings at $4.02 EPS, FY2024 earnings at $8.58 EPS and FY2025 earnings at $13.59 EPS.

Several other research analysts have also issued reports on the company. Piper Sandler reiterated a hold rating and set a $160.00 price objective on shares of Seagen in a research note on Monday, September 20th. Morgan Stanley dropped their price objective on Seagen from $173.00 to $167.00 and set an equal weight rating for the company in a research note on Friday, July 16th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $186.36.

Shares of SGEN stock opened at $161.34 on Wednesday. The stock has a market cap of $29.35 billion, a P/E ratio of 49.49 and a beta of 0.82. Seagen has a one year low of $133.20 and a one year high of $213.94. The stock has a fifty day moving average price of $156.34 and a 200 day moving average price of $151.01.

Seagen (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, July 29th. The biotechnology company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.61) by $0.14. Seagen had a return on equity of 19.02% and a net margin of 25.06%. The firm had revenue of $388.48 million during the quarter, compared to analyst estimates of $355.62 million. Research analysts anticipate that Seagen will post -2.33 EPS for the current fiscal year.

In related news, CEO Clay B. Siegall sold 15,268 shares of the business’s stock in a transaction on Friday, July 2nd. The stock was sold at an average price of $156.36, for a total value of $2,387,304.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clay B. Siegall sold 14,294 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $169.05, for a total value of $2,416,400.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,534 shares of company stock valued at $19,967,680. 27.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of SGEN. Itau Unibanco Holding S.A. bought a new stake in shares of Seagen during the 2nd quarter valued at about $28,000. Assetmark Inc. bought a new stake in shares of Seagen during the 1st quarter valued at about $26,000. AllSquare Wealth Management LLC boosted its position in shares of Seagen by 56.3% during the 2nd quarter. AllSquare Wealth Management LLC now owns 200 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 72 shares in the last quarter. KB Financial Partners LLC bought a new position in Seagen in the first quarter worth approximately $32,000. Finally, Berman Capital Advisors LLC boosted its holdings in Seagen by 77.7% in the first quarter. Berman Capital Advisors LLC now owns 318 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 139 shares in the last quarter. 88.20% of the stock is owned by institutional investors.

About Seagen

Seagen Inc is a biotechnology company, which engages in the development and commercialization of antibody-based therapies for the treatment of cancer. Its products include Adcetris and Padcev. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers. The company was founded by Clay B.

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Analyst Recommendations for Seagen (NASDAQ:SGEN)

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