Declines From Seattle Genetics Inc. (SGEN) Drive Down Health Care Sector

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Seattle Genetics ( SGEN) pushed the Health Care sector lower today making it today's featured Health Care laggard. The sector as a whole closed the day up 0.5%. By the end of trading, Seattle Genetics fell 50 cents (-1.4%) to $35.50 on average volume. Throughout the day, 923,283 shares of Seattle Genetics exchanged hands as compared to its average daily volume of 851,600 shares. The stock ranged in price between $35.40-$36.14 after having opened the day at $36.09 as compared to the previous trading day's close of $36. Other companies within the Health Care sector that declined today were: Accelr8 Technology Corporation ( AXK), down 14.7%, Accelerate Diagnostics ( AXDX), down 14.7%, Retractable Technologies ( RVP), down 12.4%, and Atossa Genetics ( ATOS), down 8.4%.
  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

Seattle Genetics, Inc., a biotechnology company, focuses on the development and commercialization of monoclonal antibody-based therapies for cancer. Its product candidate, ADCETRIS, has accelerated approval form the U.S. Seattle Genetics has a market cap of $4.37 billion and is part of the drugs industry. Shares are up 55.4% year to date as of the close of trading on Wednesday. Currently there are four analysts that rate Seattle Genetics a buy, two analysts rate it a sell, and five rate it a hold.

TheStreet Ratings rates Seattle Genetics as a sell. The area that we feel has been the company's primary weakness has been its feeble growth in its earnings per share.

On the positive front, Repros Therapeutics ( RPRX), up 76.3%, InfuSystems Holdings ( INFU), up 11%, MGC Diagnostics ( MGCD), up 10.9%, and Affymax ( AFFY), up 10.9%, were all gainers within the health care sector with Bristol-Myers Squibb Company ( BMY) being today's featured health care sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health care sector could consider Health Care Select Sector SPDR ( XLV) while those bearish on the health care sector could consider ProShares Ultra Short Health Care ( RXD).

It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.
null

If you liked this article you might like

Biotech Leaders Join Corporate Chorus Angry Over Trump's DACA Move

Valeant Higher on Paulson Stake Increase; ImmunoGen Pops; Seattle Genetics Perplexes: Biotech Movers

Biotech Movers: Clovis, Seattle Genetics, Rigel

Apple Could Explode Higher to $200 a Share If This Chart Pattern Is Correct

Analysts' Actions -- Costco, J.C. Penney, Cisco, TherapeuticsMD and More