3 Stocks Pushing The Drugs Industry Lower

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

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average (^DJI) trading down 57 points (-0.4%) at 13,942 as of Monday, Feb. 25, 2013, 12:05 PM ET. The NYSE advances/declines ratio sits at 1,301 issues advancing vs. 1,576 declining with 144 unchanged.

The Drugs industry currently sits down 0.7% versus the S&P 500, which is down 0.3%. On the negative front, top decliners within the industry include GlaxoSmithKline (GSK), down 1.2%, and Celgene Corporation (CELG), down 0.8%. Top gainers within the industry include Gilead (GILD), up 1.3%, Novartis (NVS), up 0.6% and Novo Nordisk A/S (NVO), up 0.6%.

TheStreet Ratings group would like to highlight 3 stocks pushing the industry lower today:

3. Affymax (AFFY) is one of the companies pushing the Drugs industry lower today. As of noon trading, Affymax is down $14.11 (-85.4%) to $2.41 on heavy volume Thus far, 42.7 million shares of Affymax exchanged hands as compared to its average daily volume of 850,300 shares. The stock has ranged in price between $2.34-$2.75 after having opened the day at $2.49 as compared to the previous trading day's close of $16.52.

Affymax, Inc., a biopharmaceutical company, engages in the development of drugs for the treatment of serious and life-threatening conditions in the United States. It offers OMONTYS (peginesatide) Injection for the treatment of anemia in chronic kidney disease in adult patients on dialysis. Affymax has a market cap of $597.3 million and is part of the health care sector. Shares are down 15.4% year to date as of the close of trading on Friday. Currently there are 4 analysts that rate Affymax a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Affymax as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, weak operating cash flow, disappointing return on equity and feeble growth in its earnings per share. Get the full Affymax Ratings Report now.

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