Oppenheimer Boosts Seagen (NASDAQ:SGEN) Price Target to $208.00

Seagen (NASDAQ:SGENGet Rating) had its price objective raised by Oppenheimer from $160.00 to $208.00 in a research note issued to investors on Tuesday morning, The Fly reports. They currently have an outperform rating on the biotechnology company’s stock. Oppenheimer also issued estimates for Seagen’s FY2026 earnings at $11.98 EPS.

A number of other brokerages have also issued reports on SGEN. SVB Leerink lifted their target price on Seagen from $155.00 to $159.00 and gave the stock an outperform rating in a research report on Monday, June 6th. Morgan Stanley increased their target price on Seagen from $170.00 to $173.00 and gave the company an overweight rating in a research note on Tuesday, April 12th. StockNews.com began coverage on shares of Seagen in a research note on Thursday, March 31st. They issued a hold rating for the company. Finally, JMP Securities reiterated a buy rating and set a $157.00 price objective on shares of Seagen in a research note on Wednesday, June 8th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $164.55.

Shares of NASDAQ:SGEN opened at $174.00 on Tuesday. The company has a market capitalization of $32.03 billion, a price-to-earnings ratio of -46.15 and a beta of 0.85. The company has a 50 day moving average of $140.14 and a two-hundred day moving average of $140.14. Seagen has a 52-week low of $105.43 and a 52-week high of $192.79.

Seagen (NASDAQ:SGENGet Rating) last announced its earnings results on Thursday, April 28th. The biotechnology company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.24. Seagen had a negative net margin of 41.32% and a negative return on equity of 21.86%. The business had revenue of $426.50 million during the quarter, compared to the consensus estimate of $401.75 million. During the same period in the prior year, the firm earned ($0.67) earnings per share. The business’s quarterly revenue was up 28.5% compared to the same quarter last year. On average, equities research analysts anticipate that Seagen will post -3.5 EPS for the current year.

In other Seagen news, insider Vaughn B. Himes sold 10,866 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $136.79, for a total transaction of $1,486,360.14. Following the completion of the transaction, the insider now directly owns 59,064 shares of the company’s stock, valued at approximately $8,079,364.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vaughn B. Himes sold 1,134 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $160.00, for a total transaction of $181,440.00. Following the transaction, the insider now directly owns 119,471 shares of the company’s stock, valued at $19,115,360. The disclosure for this sale can be found here. Insiders have sold a total of 53,591 shares of company stock valued at $7,516,752 over the last three months. 27.30% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new stake in shares of Seagen during the 4th quarter worth about $32,000. Achmea Investment Management B.V. bought a new stake in shares of Seagen during the 1st quarter worth about $33,000. Leverty Financial Group LLC bought a new stake in shares of Seagen during the 4th quarter worth about $35,000. BerganKDV Wealth Management LLC raised its position in shares of Seagen by 256.6% during the 1st quarter. BerganKDV Wealth Management LLC now owns 271 shares of the biotechnology company’s stock worth $39,000 after buying an additional 195 shares in the last quarter. Finally, Covestor Ltd bought a new stake in shares of Seagen during the 4th quarter worth about $50,000. Institutional investors own 90.37% of the company’s stock.

About Seagen (Get Rating)

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company 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 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.

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