In a report issued on April 29, Thomas Shrader from BTIG maintained a Hold rating on Seagen (SGEN – Research Report). The company’s shares closed last Friday at $143.76, close to its 52-week low of $134.10.
According to TipRanks.com, Shrader is a 4-star analyst with an average return of 18.6% and a 41.8% success rate. Shrader covers the Healthcare sector, focusing on stocks such as Denali Therapeutics, Gain Therapeutics, and OncoSec Medical.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Seagen with a $182.54 average price target, implying a 33.8% upside from current levels. In a report issued on April 29, Barclays also maintained a Hold rating on the stock with a $163.00 price target.
Based on Seagen’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $332 million and GAAP net loss of $121 million. In comparison, last year the company earned revenue of $235 million and had a GAAP net loss of $168 million.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SGEN in relation to earlier this year. Most recently, in February 2021, Jean Liu, the GC of SGEN bought 4,846 shares for a total of $200,466.
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Washington-based Seagen, Inc. is a biotechnology company, which is focused on developing and commercializing innovative, empowered monoclonal antibody-based therapies for the treatment of cancer. Its products include Adcetris and Padcev.