Seagen (NASDAQ:SGEN) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Seagen (NASDAQ:SGENFree Report) in a research note issued to investors on Friday. The firm issued a hold rating on the biotechnology company’s stock.

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

Check Out Our Latest Stock Analysis on SGEN

Seagen Stock Performance

SGEN opened at $228.74 on Friday. Seagen has a 12-month low of $123.77 and a 12-month high of $228.96. The firm has a market capitalization of $42.93 billion, a PE ratio of -57.04 and a beta of 0.32. The firm has a 50 day moving average of $227.68 and a two-hundred day moving average of $214.92.

Hedge Funds Weigh In On Seagen

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake 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 valued at $1,768,813,000 after acquiring an additional 139,117 shares during the period. BlackRock Inc. grew its holdings in Seagen by 7.6% during the 2nd quarter. BlackRock Inc. now owns 12,041,819 shares of the biotechnology company’s stock valued at $2,317,568,000 after purchasing an additional 850,697 shares in the last quarter. Primecap Management Co. CA grew its holdings in Seagen by 3.7% during the 3rd quarter. Primecap Management Co. CA now owns 6,261,798 shares of the biotechnology company’s stock valued at $1,328,440,000 after purchasing an additional 222,990 shares in the last quarter. State Street Corp grew its holdings in Seagen by 0.7% during the 1st quarter. State Street Corp now owns 3,525,411 shares of the biotechnology company’s stock valued at $507,835,000 after purchasing an additional 24,853 shares in the last quarter. Finally, Norges Bank acquired a new stake in Seagen during the 4th quarter valued at $281,065,000. Hedge funds and other institutional investors own 84.26% of the company’s stock.

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.

See Also

Analyst Recommendations for Seagen (NASDAQ:SGEN)

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