StockNews.com Begins Coverage on Seagen (NASDAQ:SGEN)
stock. Seagen is a biotechnology company with a Hold rating from StockNews.
In a research report sent to investors Monday morning. The firm gave the stock of the biotechnology company a Hold rating.
Several other research firms also released reports on SGEN. SVB Leerink downgraded shares of Seagen to a perform rating from outperform and reduced their target price from $162.00 up to $141.00. This was done in a research report on Monday, 6th February. Berenberg Bank downgraded shares of Seagen in a research report on Friday, 24th March from a Buy rating to a Hold rating. Needham & Company LLC lowered Seagen shares from a Buy rating to a Hold rating in a Research Note on Monday, 13th March. Morgan Stanley raised the price target on Seagen's stock from $173.00 up to $229.00 and lowered its overweight rating from $229.00. This was revealed in a report published by Morgan Stanley on March 15th. In a report published on February 28th, Guggenheim reiterated its buy rating on Seagen shares and set a price target of $170.00. Twelve analysts have given the stock a hold recommendation, while six others have given it a buy recommendation. Opening at $205.00 Monday. The fifty-day moving median of the company is $185.22, and its 200 day moving is $149.75. Seagen's 12 month low is $105.43 while its 12 month high is $207.16. The company has a $38.29-billion market cap, a P/E ratio of 62.12, and a beta value of 0.54.
The last time ) announced its quarterly results was on February 15th. The biotechnology firm reported ($0.80), EPS, for the quarter. This was $0.22 higher than the consensus estimate ($1.02) Seagen's negative net margin was 31.10%, and its negative return on equity was 21.13%. Analysts had predicted $479.81 millions for the company's revenue. The actual number was $528.20. In the same quarter of the previous year, the company posted ($0.95) in earnings per share. Seagen's revenue for the quarter was up by 22.9% compared to last year. Research analysts expect Seagen to post -2.98 earnings a share for this fiscal year.
Seagen Insider Activities
Insider Jean I. Liu, in related news, sold 5,000 Seagen shares on Tuesday, the 24th of January. The shares were purchased at an average of $135.03 for a transaction totaling $675,150.00. After the completion of this transaction, the insider owns directly 85,113 shares in the company, valued at around $11,492,808.39. In a transaction that took place on Tuesday, 24th January, 5,000 shares were sold. The shares were purchased at an average price $135.03 for a value of $675.150.00. After the sale was completed, the insider owns 85 113 shares of the company valued at approximately 11,492,808.39 dollars. CMO Roger D. Dansey also sold 10,000 shares in the firm on Tuesday, January 24th. The shares were purchased at $135.00 on average, for a $1,350,000.00 total transaction. After the completion of this sale, the chief marketer now owns approximately 13,167,765 shares of company stock valued at 97,539 dollars. Insiders have sold 225 568 shares of stock worth $41,295,636 over the past ninety-day period. Insiders hold 27.30% the stock of the company.
Seagen: Institutional investors weigh in
SGEN has been modified by several institutional investors. Guardian Wealth Advisors LLC purchased a new stake of approximately $26,000 in Seagen shares during the third quarter. OLD Mission Capital LLC purchased a stake in Seagen shares during the fourth quarter, valued at approximately $28,000. Corrado Advisors LLC purchased a new stake in Seagen valued at about $32,000 during the fourth quarter. Harvest Fund Management Co. Ltd increased its holdings of Seagen by 622.2% in the fourth quarter. Harvest Fund Management Co. Ltd owns 260 of the biotechnology firm's shares valued at $33,000, after buying 224 additional shares. Achmea Investment Management B.V. also acquired a position in Seagen, valued at about $33,000, during the first quarter. 86.25% of Seagen's shares are owned by institutional investors and hedge fund.
Seagen Inc. is a biotechnology firm that develops and commercializes targeted therapies to treat cancer. Seagen Inc. also works on the development of treatments for blood-related and solid tumors. Adcetris is one of its products, as are Padcev Tivdak and Tukysa. Clay B. founded the company.
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