This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Why Seattle Genetics (SGEN) Hit An All-Time High Today

NEW YORK (TheStreet) -- Seattle Genetics (SGEN - Get Report) soared to an all-time high of $51.97 on Wednesday morning after the biotech company announced a narrower-than-expected loss in its fourth-quarter results, along with revenues that surpassed analysts' expectations.

The company reported a loss of 13 cents a share, which was narrower than the Zacks consensus estimate of 24 cents but still wider than the loss of nine cents a share from the fourth quarter one year ago. Revenues increased to $67.4 million from $63.9 million in the same period one year earlier. This surpassed analysts' expectations of $59 million.

"Our 2013 financial results highlight our progress with ADCETRIS, which now has approvals or marketing authorizations in 39 countries and generated total 2013 global net sales of more than $250 million, reflecting growth inthe United States and Canada as well as product launches by Takeda in the rest of the world. We also reported strong collaboration revenues in 2013, including multiple upfront and milestone payments generated under our ADC collaborations," said President and CEO Clay B. Siegall, Ph.D. in the company's statement.

"We remain well positioned to continue investing in the broad clinical development of ADCETRIS in earlier lines of lymphoma therapy and other CD30-positive malignancies, as well as advancement of our five clinical-stage pipeline programs for cancer. We anticipate several important milestones during 2014, notably data from our ADCETRIS phase 3 AETHERA clinical trial as well as clinical data from two of our proprietary ADCs, SGN-CD19A and SGN-CD33A." SGEN Chart

SGEN data by YCharts

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
SGEN $43.23 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%
TSLA $247.73 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs