Seattle Genetics, Inc. (SGEN - Free Report) was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company for the company—as the stock is now up 3.5% in the past one-month time frame.
The move came after the company's announcement that the U.S. Food and Drug Administration has granted Breakthrough Therapy Designation to Adcetris (brentuximab vedotin) in combination with chemotherapy for the frontline treatment of patients with advanced classical Hodgkin lymphoma.
The company has seen three positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Seattle Genetics. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Seattle Genetics, Inc. Price
Seattle Genetics currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
A better-ranked stock in the Medical sector is PDL BioPharma, Inc. (PDLI - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here
Is SGEN going up? Or down? Predict to see what others think: Upor Down
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