Earnings Look Back: Seattle Genetics Is Up 3.6% Since Reporting Quarterly Results 1 Week Ago (SGEN)

Published on Sat, 05/18/2013 - 09:13
By Mallory Stone in Earnings Lookback, SGEN, earnings flashbacks, nasdaq:sgen, seattle genetics

A week ago on May 7th, 2013 Seattle Genetics (NASDAQ:SGEN) reported earnings and analysts, on average, expected a loss of $0.19 on sales of $53.6 million. Seattle Genetics actually reported a loss of $0.14 per share on sales of $57.3 million, beating EPS estimates by $0.05 and beating revenue estimates by $3.8 million. Shares of Seattle Genetics have climbed from $35.41 to $36.70, representing a gain of 3.6% since the company reported earnings 11 days ago.

In the past 52 weeks, shares of Seattle Genetics have traded between a low of $19.00 and a high of $39.00 and closed Thursday at $36.70, which is 93% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 2.2%.

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.

Seattle Genetics (NASDAQ:SGEN) defies analysts with a current price ($36.70) 14.4% above its average consensus price target of $31.40. The stock should discover initial support at its 50-day moving average (MA) of $35.58 and subsequent support at its 200-day MA of $28.72.

By Mallory Stone
mstone@fnno.com

Latest News from FNNO

Recent 52-Week High Exceeded in Shares o...

Wyndham Worldwide (NYSE:WYN) traded at a new 52-week high today of $78.98. So far toda ...

Whiting Petroleum Looks to Continue to T...

Shares of Whiting Petroleum (NYSE:WLL) traded today at $91.00, breaking its 52-week hig ...

Weatherford International: 52-Week High ...

Weatherford International (NYSE:WFT) traded at a new 52-week high today of $24.88. So ...

Watch for Continued Gains in Shares of W...

Shares of Wabtec (NYSE:WAB) traded today at $85.18, breaking its 52-week high. This ne ...

Watch for Continued Gains in Shares of V...

Shares of Vanguard Natural Resources (NYSE:VNR) traded today at $33.04, breaking its 52 ...

VASCO Data Security International: The W...

VASCO Data Security International (NASDAQ:VDSI) traded at a new 52-week high today of $ ...

Shares of Universal Health Services Have...

Shares of Universal Health Services (NYSE:UHS) traded at a new 52-week high today of $9 ...

Shares of UDR Have Risen Above Previous ...

Shares of UDR (NYSE:UDR) traded today at $28.95, breaking its 52-week high. So far tod ...