As of July 5, 2023, Seagen Inc. (NASDAQ:SGEN) has received an average rating of “Hold” from seventeen research firms, according to a report by Bloomberg Ratings. The company, which specializes in biotechnology and develops therapies for cancer treatment, has been analyzed by eleven equities research analysts who have assigned a hold rating, while six others have given it a buy rating. The average 12-month price target among brokers who have recently updated their coverage on Seagen is $190.47.
Seagen Inc. focuses on the development and commercialization of therapies aimed at treating cancer patients both in the United States and internationally. Among its notable products are ADCETRIS, an antibody-drug conjugate used to treat Hodgkin lymphoma and CD30-positive T-cell lymphomas; PADCEV, another antibody-drug conjugate targeting Nectin-4 for advanced or metastatic urothelial cancer patients; and TUKYSA, an oral small molecule tyrosine kinase inhibitor designed for advanced unresectable or metastatic HER2-positive breast cancer.
Recent developments in Seagen’s investor landscape reveal interesting trends in stakeholding activity. Some significant investors have made changes to their stakes in the company during the first quarter of this year. For instance, Cetera Investment Advisers increased its holdings in Seagen by 1.2%, now owning 4,526 shares worth approximately $916,000 after acquiring an additional 52 shares in the last quarter alone. Xponance Inc., another major investor, boosted its holdings by 0.3% during the same period and now possesses 18,581 shares valued at around $3.76 million following the acquisition of an additional 53 shares.
Ameritas Investment Partners Inc., a key player in diverse investment fields, also demonstrated faith in Seagen by increasing its holdings by 1.4%. The company now owns 4,001 shares valued at $810,000 after purchasing an additional 55 shares in just one quarter. Similarly, Parkwood LLC acquired an additional 56 shares of Seagen during the first quarter, increasing its holdings by 0.4% to a total of 12,618 shares worth $2.56 million. Lastly, Parallel Advisors LLC experienced a remarkable growth in its stake when it boosted its holdings by a substantial 61.6%. The company now owns 181 shares with a value of $37,000 after acquiring an additional 69 shares.
These recent activities among institutional investors and hedge funds indicate their growing confidence in Seagen Inc. As of now, these parties collectively hold approximately 81.88% of the company’s stock, reflecting their belief in its potential for success and future growth.
It is worth noting that Seagen Inc.’s average price target among brokers stands at $190.47 over the next twelve months. This figure serves as a guide and provides insight into the market’s expectations for the stock’s performance moving forward.
Considering Seagen’s significant presence in the biotechnology sector and its innovative approach to cancer treatment therapies, it is no wonder that both analysts and investors are closely monitoring the company’s progress. With its existing product portfolio and ongoing research endeavors, Seagen continues to strive for advancements in cancer treatment options—a goal that resonates with investors seeking companies dedicated to making a positive impact on society.
While diverse opinions exist regarding Seagen’s stock—ranging from hold to buy ratings—the collective analysis supports continued interest and engagement with this biotechnology pioneer as it continues to push boundaries in cancer treatment research and development worldwide.
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Analysts’ Varying Assessments and Insider Trading Indicate Uncertainty for Seagen Inc’s Stock
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”SGEN” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Seagen Inc, a leading biotechnology company in the field of cancer therapeutics, has been under scrutiny by equities analysts in recent months. These analysts have provided varied ratings and target prices for the company’s stock, indicating different opinions on its performance and outlook.
In March 2023, JMP Securities downgraded Seagen from an “outperform” rating to a “market perform” rating. This change in rating suggests that the analysts believe the stock’s performance will be more aligned with the overall market rather than outperforming it. On the same day, SVB Securities increased their target price for Seagen shares from $141.00 to $229.00. This indicates that they expect the stock to reach a higher value within a specified time frame.
Raymond James also downgraded Seagen from a “strong-buy” rating to a “market perform” rating on March 13th. This change suggests that they no longer consider the stock as compelling as before and expect it to perform similarly to other stocks in the market. Conversely, Truist Financial raised their price target for Seagen shares from $152.00 to $229.00 on March 20th, indicating their belief in further potential growth for the stock.
Morgan Stanley took a similar stance as Raymond James by downgrading Seagen’s rating from “overweight” to “equal weight.” However, they simultaneously raised their price target for the stock from $173.00 to $229.00. This suggests that although they believe the stock’s performance will be average compared to other stocks, they anticipate an increase in its value.
In addition to analyst opinions, insider trading activity provides insights into how individuals close to Seagen perceive its financial prospects. Insider Vaughn B. Himes sold 16,215 shares of the company’s stock on June 7th at an average price of $195.29 per share, totaling over $3 million. This transaction indicates that an insider deemed it a suitable time to sell their shares.
Another insider, EVP Charles R. Romp, sold 133 shares of Seagen stock on April 6th at an average price of $205.86 per share, totaling over $27,000. These transactions may indicate that insiders had varying levels of confidence in the company’s future performance.
At present, Seagen is engaged in the development and commercialization of therapies for the treatment of cancer globally. Their product portfolio includes ADCETRIS, an antibody-drug conjugate designed for Hodgkin lymphoma and CD30-positive T-cell lymphomas; PADCEV, an ADC targeting Nectin-4 for advanced or metastatic urothelial cancer; and TUKYSA, an oral small molecule tyrosine kinase inhibitor for HER2-positive breast cancer.
As of July 5th, Seagen’s stock opened at $194.43. The company has experienced a 12-month low of $116.08 and a 12-month high of $207.16. With a market capitalization of approximately $36.46 billion, Seagen operates with a negative price-to-earnings ratio (-55.71) and a beta value of 0.51 indicating moderate volatility compared to the broader market.
Seagen reported its quarterly earnings results on April 27th. The company generated revenue of $519.70 million during the quarter, surpassing the consensus estimate by approximately $3 million. However, Seagen reported a loss per share of ($0.93), falling short of the analysts’ consensus estimate by ($0.11). These results reflect improvements in revenue but indicate ongoing challenges regarding profitability.
Based on research analysts’ projections, Seagen is expected to post earnings per share (EPS) of -2.95 for the current fiscal year.
In conclusion, Seagen Inc, a major player in the biotechnology industry, has received varied assessments from equities analysts regarding its stock. While some analysts downgraded their rating on the company, others raised their target price for its shares. These conflicting opinions indicate uncertainty about Seagen’s future performance. Furthermore, recent insider trading activities highlight differing perspectives among individuals close to the company. Investors should closely monitor these developments and consider them when making investment decisions related to Seagen.
Disclaimer: This article provides general information only and should not be interpreted as investment advice. Always conduct thorough research and consult with a professional before making any investment decisions.
