Berenberg analyst Zhiqiang Shu lowered the firm’s price target on Seagen to $170 from $183 and keeps a Buy rating on the shares. The analyst recently met with management and came away with a positive outlook for the company. The firm views Seagen as a mature mid-cap biotech company on a path to becoming a large-cap. In 2023, it expects multiple catalysts including key trial readouts and regulatory decisions.
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