Seagen price target raised to $155 from $145 at RBC Capital

RBC Capital analyst Gregory Renza raised the firm’s price target on Seagen to $155 from $145 and keeps an Outperform rating on the shares. The analyst cites the company’s better than expected Q4 results driven by commercial volume of Adcetris and Tukysa. The firm also anticipates continued growth for Padcev and Adcetris this year, along with Padcev going forward with ongoing label expansion and pipeline optionality.