Seattle Genetics Gives Way to the Analysts: Down 5.9% Since Last Week's Downgrade

Published on Wed, 02/20/2013 - 10:11
By Peter Chu in Analyst reflections, SGEN, analyst reflections, nasdaq:sgen, seattle genetics

Seattle Genetics was downgraded from Buy to Hold by Needham one week ago. The stock closed at $27.70, which is 5.9% lower than the price one week ago ($29.44).

Seattle Genetics (NASDAQ:SGEN) is currently priced 14.7% above its average consensus analyst price target of $23.83. Seattle Genetics shares have support at the 50-day moving average (MA) of $26.91 and additional support at the 200-day MA of $25.32.

Seattle Genetics, Inc. discovers and develops monoclonal antibody-based drugs to treat cancer and related diseases. The Company's technologies increase the potency and efficacy of monoclonal antibodies with specificity for cancer.

In the past 52 weeks, Seattle Genetics share prices have been bracketed by a low of $17.09 and a high of $30.85 and are now at $27.95, 64% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

By Peter Chu
pchu@fnno.com

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