Research Coverage Initiated for Seagen Inc. by StockNews.com

StockNews.com has initiated research coverage on Seagen Inc. SGEN, a leading biotechnology company that specializes in developing and commercializing cancer treatment therapies. The firm has started off by assigning a "hold" rating to the company's stock, signaling a neutral stance on the investment prospects of Seagen at present.

Analyst Ratings and Price Targets

Previously, other research firms have also provided their opinions on SGEN. Morgan Stanley maintained an "equal weight" rating and set a price target of $229.00 for SGEN. Truist Financial also reaffirmed a "hold" rating with the same price target. Additionally, TheStreet downgraded SGEN from a "c-" rating to a "d+" rating. Overall, SGEN has received a mixed consensus rating of "Hold" from twelve analysts, with six recommending a "buy", and a consensus target price of $193.00.

Stock Performance Details

The stock of Seagen Inc. was trading at $213.72 at the last open. SGEN has experienced a substantial range over the past year, hitting a low of $116.08 and peaking at $217.51. With a market capitalization of $40.32 billion, its price-to-earnings ratio stands at -53.30, and it holds a beta of 0.35. The 50-day and 200-day moving averages for SGEN are $212.24 and $201.80 respectively.

In recent earnings reports, SGEN disclosed a quarterly earnings per share of -$1.15, which fell short of the consensus estimate by $0.33. The negative return on equity was reported at 28.06% and the negative net margin at 32.61%. Although the company reported an increase in revenue of 27.1% year-over-year, reaching $648.65 million, it has been forecasted to post an EPS of -3.98 for the current fiscal year.

Insider Trading Activity

There have been notable insider trades with Vaughn B. Himes, an insider at Seagen, selling 8,785 shares at an average price of $205.76, resulting in a total transaction of $1.8 million. Post-transaction, Himes retained 51,439 shares valued at approximately $10.6 million. EVP Charles R. Romp also sold shares, trading 438 units at $206.00 each. Over the last 90 days, insiders have offloaded 23,107 shares valued at roughly $4.8 million, with insiders owning 25.90% of the company's stock.

Institutional Investment Activity

Institutional investors and hedge funds have shown varied activity in SGEN. Notable movements include Private Trust Co. NA increasing its holdings by 87.1%, and new positions acquired by KB Financial Partners LLC and Allworth Financial LP. Achmea Investment Management B.V. also established a new stake in SGEN. Collectively, institutional investors and hedge funds own 84.26% of Seagen's stock.

About Seagen

Seagen Inc., headquartered in Bothell, Washington, is a recognized pioneer in the field of biotechnology. The company's advancements include ADCETRIS, PADCEV, and TUKYSA—all groundbreaking therapies designed to improve the lives of cancer patients globally. Seagen continues to demonstrate a commitment to innovation and patient care within the biotech industry.

Seagen, SGEN, Biotechnology