Morgan Stanley Maintains Overweight Rating for Seagen: Here's What You Need To Know

Morgan Stanley has decided to maintain its Overweight rating of Seagen SGEN and lower its price target from $181.00 to $170.00.

Shares of Seagen are trading up 0.36% over the last 24 hours, at $133.78 per share.

A move to $170.00 would account for a 27.08% increase from the current share price.

About Seagen

Seagen (formerly known as Seattle Genetics) is a biotech firm that develops and commercializes therapies to treat cancers. Seagen's therapies are based on antibody-drug conjugate technology that utilizes the targeting ability of monoclonal antibodies to deliver cell-killing agents directly to cancer cells. The company's lead product, Adcetris, has received approval for six indications to treat Hodgkin lymphoma and T-cell lymphoma. Other approved products include Padcev for bladder cancer, Tukysa for breast cancer, and Tivdak for cervical cancer. The company has several other oncology programs in pivotal trials. Seagen also licenses its antibody-drug conjugate technology to several leading biotechnology and pharmaceutical companies.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.