Seagen (NASDAQ:SGEN) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Seagen (NASDAQ:SGENFree Report) in a research report released on Friday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on the company. TheStreet lowered Seagen from a c- rating to a d+ rating in a research note on Friday, November 3rd. Truist Financial reaffirmed a hold rating and issued a $229.00 price objective on shares of Seagen in a research note on Wednesday, October 18th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Seagen currently has a consensus rating of Hold and a consensus target price of $197.69.

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Seagen Price Performance

NASDAQ:SGEN opened at $228.74 on Friday. The firm has a market capitalization of $42.93 billion, a price-to-earnings ratio of -57.04 and a beta of 0.32. Seagen has a 1 year low of $123.77 and a 1 year high of $228.96. The business has a 50 day simple moving average of $227.68 and a 200-day simple moving average of $214.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Seagen by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 12,279,156 shares of the biotechnology company’s stock worth $1,768,813,000 after acquiring an additional 139,117 shares in the last quarter. BlackRock Inc. raised its position in shares of Seagen by 7.6% in the 2nd quarter. BlackRock Inc. now owns 12,041,819 shares of the biotechnology company’s stock worth $2,317,568,000 after acquiring an additional 850,697 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Seagen by 3.7% in the 3rd quarter. Primecap Management Co. CA now owns 6,261,798 shares of the biotechnology company’s stock worth $1,328,440,000 after acquiring an additional 222,990 shares in the last quarter. State Street Corp raised its position in shares of Seagen by 0.7% in the 1st quarter. State Street Corp now owns 3,525,411 shares of the biotechnology company’s stock worth $507,835,000 after acquiring an additional 24,853 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Seagen in the 4th quarter worth $281,065,000. 84.26% of the stock is currently owned by hedge funds and other 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. It 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 adult patients with 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.

Further Reading

Analyst Recommendations for Seagen (NASDAQ:SGEN)

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