Seagen price target raised to $168 from $142 at JMP Securities

JMP Securities raised the firm’s price target on Seagen to $168 from $142 and keeps an Outperform rating on the shares. Seagen recently reported Q4 results and provided an outlook for 2023, and its four approved products are on track to generate greater than$2B in total revenues in 2023, Adcetris is on track to achieve blockbuster status, multiple partners helping to expand the company’s global commercial footprint, and Seagen has a growing pipeline advancing preclinically and clinically, including novel targeted therapies across ADCs, I/O and novel bispecifics, the analyst tells investors in a research note.