These Analysts Boost Price Targets On Seagen Following Acquisition News

Pfizer Inc PFE agreed to acquire Seagen Inc SGEN for $229 in cash per Seagen share for a total enterprise value of $43 billion.

Seagen shares jumped 14.5% to close at $197.65 on Monday.

These analysts made changes to their price targets on Seagen following the release of results.

• Barclays raised the price target on Seagen from $145 to $228. Barclays analyst Gena Wang maintained an Equal-Weight rating.
• BMO Capital increased the price target on Seagen from $179 to $229. BMO Capital analyst Etzer Darout downgraded the stock from Outperform to Market Perform.

Other analysts also downgraded the stock following the deal announcement.

• JMP Securities analyst Reni Benjamin downgraded Seagen from Market Outperform to Market Perform.
• Raymond James analyst Dane Leone downgraded the stock from Strong Buy to Market Perform.
• Needham analyst Ami Fadia also downgraded Seagen from Buy to Hold.

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