SGEN, SNY And REGN, 3 Health Care Stocks Pushing The Sector Lower

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 15 points (0.1%) at 16,035 as of Monday, Dec. 9, 2013, 11:45 AM ET. The NYSE advances/declines ratio sits at 1,480 issues advancing vs. 1,397 declining with 175 unchanged.

The Health Care sector currently is unchanged today versus the S&P 500, which is up 0.3%. On the negative front, top decliners within the sector include Edwards Life ( EW), down 5.6%, and Biogen Idec ( BIIB), down 0.8%. Top gainers within the sector include Celgene Corporation ( CELG), up 4.2%, Bristol-Myers Squibb Company ( BMY), up 1.9%, Gilead ( GILD), up 1.3%, Cigna ( CI), up 1.2% and WellPoint ( WLP), up 1.0%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Seattle Genetics ( SGEN) is one of the companies pushing the Health Care sector lower today. As of noon trading, Seattle Genetics is down $2.50 (-5.6%) to $41.85 on heavy volume. Thus far, 751,148 shares of Seattle Genetics exchanged hands as compared to its average daily volume of 838,000 shares. The stock has ranged in price between $41.60-$44.99 after having opened the day at $44.50 as compared to the previous trading day's close of $44.35.

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 $5.4 billion and is part of the drugs industry. Shares are up 91.4% year to date as of the close of trading on Friday. Currently there are 3 analysts that rate Seattle Genetics a buy, 2 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Seattle Genetics as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income and feeble growth in its earnings per share. Get the full Seattle Genetics Ratings Report now.

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