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4-Traders Homepage  >  Equities  >  Nasdaq  >  Seattle Genetics, Inc.    SGEN

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Seattle Genetics, Inc. : Morning Research on Gilead Sciences, Halozyme Therapeutics, InterMune, and Seattle Genetics

03/25/2013 | 07:05am US/Eastern

LONDON, March 25, 2013 /PRNewswire/ --

The biotechnology sector is adapting to the changing market dynamics. In the last one year, the industry has seen increasing generic competition following the expiration of patents on several blockbuster drugs. Meanwhile, President Obama's Affordable Care Act (ACA), which was upheld by the Supreme Court last year, is expected to result in rising costs for biotechnology companies. However, biotechnology companies such as Gilead Sciences Inc. (NASDAQ: GILD), Halozyme Therapeutics Inc. (NASDAQ: HALO), InterMune Inc. (NASDAQ: ITMN), and Seattle Genetics Inc. (NASDAQ: SGEN) will be hoping to benefit from ACA in the long-term as the healthcare reform would lead to an increase in the number of insured individuals. On Friday, biotechnology stocks tracked gains in the broad market, which rose sharply as concerns over Cyprus's bailout eased a little. StockCall has posted free technical research reports on GILD, HALO, ITMN, and SGEN and these can be accessed by signing up at


Shares of Gilead Sciences Inc. rose sharply in trading on Friday. The stock rose to an intra-day high of $45.56 before paring some of the gains to finish the day 2.18% higher at $45.51 on volume of 8.29 million. Gilead Sciences Inc.'s shares are currently hovering around their 52-week high of $46.37. The stock has had an excellent run so far this year, gaining nearly 24%. The company's shares have seen a series of highs since the start of this year, which is a bullish signal. Download the free report on GILD upon registration at


Halozume Therapeutics Inc. shares were amongst the biggest gainers in the biotechnology sector on Friday, closing 30.98% higher at $6.90 on above average volume of 7.75 million. The stock touched an intra-day high of $6.98. Halozyme Therapeutics shares crossed their 50-day and 200-day moving averages in trading on Friday, which is a bullish signal. The stock is now trading close to $7 resistance level. The stock's MACD has also crossed above the signal line, which is another strong bullish signal. HALO technical report can be accessed for free by signing up at


InterMune Inc.'s shares edged higher in trading on Friday, extending their gains from the previous trading sessions. The stock finished 2.67% higher at $9.61 on above average volume of 1.79 million, taking its gains in the last three trading sessions to nearly 10.50%. Despite the recent gains, InterMune's shares are down nearly 1% for the year. In the last one year, the stock has fallen more than 36.50%. The company's shares crossed their 50-day and 200-day moving averages as a result of the rally last week, which is a bullish signal. The upbeat trend is further confirmed by the stock's MACD chart. The free report on ITMN can be downloaded by signing up now at


Another major gainer in the biotech sector on Friday was Seattle Genetics Inc. Shares of the Bothell, Washington-based company rose 4.14% to finish at $36.22 on above average volume of 1.03 million. The stock touched a 52-week high of $36.35 earlier in the day. Seattle Genetics Inc.'s shares have seen a series of highs over the last one month, which is a strong bullish signal. The upbeat trend is further confirmed by recent volume activity and the stock's MACD chart. Year-to-date, the company's shares have gained more than 56%. Free report on SGEN can be accessed by registering at


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SOURCE StockCall.com

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