3 Stocks Driving The Drugs Industry Higher
All three major indices are trading down today with the
Dow Jones Industrial Average
(
^DJI
) trading down 86 points (-0.5%) at 18,509 as of Thursday, July 21, 2016, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,295 issues advancing vs. 1,607 declining with 160 unchanged.
The Drugs industry currently sits up 0.7% versus the S&P 500, which is down 0.3%. Top gainers within the industry include
(
), up 6.7%,
(
), up 2.3% and
(
), up 2.0%.
TheStreet would like to highlight 3 stocks pushing the industry higher today:
3.
(
) is one of the companies pushing the Drugs industry higher today. As of noon trading, Biogen is up $18.45 (7.0%) to $280.86 on heavy volume. Thus far, 3.5 million shares of Biogen exchanged hands as compared to its average daily volume of 1.8 million shares. The stock has ranged in price between $274.23-$281.33 after having opened the day at $279.28 as compared to the previous trading day's close of $262.41.
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Biogen Inc. discovers, develops, manufactures, and delivers therapies for the treatment of neurodegenerative diseases, hematologic conditions, and autoimmune disorders. Biogen has a market cap of $56.9 billion and is part of the health care sector. Shares are down 14.3% year-to-date as of the close of trading on Wednesday. Currently there are 12 analysts who rate Biogen a buy, no analysts rate it a sell, and 5 rate it a hold.
TheStreet Ratings rates
Biogen
as a
. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full
now.
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2. As of noon trading,
(
) is up $0.50 (1.2%) to $43.15 on average volume. Thus far, 6.5 million shares of Abbott Laboratories exchanged hands as compared to its average daily volume of 11.5 million shares. The stock has ranged in price between $42.81-$43.42 after having opened the day at $42.88 as compared to the previous trading day's close of $42.65.
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Abbott Laboratories manufactures and sells health care products worldwide. Abbott Laboratories has a market cap of $61.4 billion and is part of the health care sector. Shares are down 5.0% year-to-date as of the close of trading on Wednesday. Currently there are 12 analysts who rate Abbott Laboratories a buy, no analysts rate it a sell, and 4 rate it a hold.
TheStreet Ratings rates
Abbott Laboratories
as a
. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself. Get the full
Abbott Laboratories Ratings Report
now.
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1. As of noon trading,
(
) is up $0.45 (0.7%) to $63.86 on light volume. Thus far, 2.8 million shares of AbbVie exchanged hands as compared to its average daily volume of 9.4 million shares. The stock has ranged in price between $63.17-$63.91 after having opened the day at $63.23 as compared to the previous trading day's close of $63.41.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceutical products worldwide. AbbVie has a market cap of $102.4 billion and is part of the health care sector. Shares are up 7.0% year-to-date as of the close of trading on Wednesday. Currently there are 6 analysts who rate AbbVie a buy, 1 analyst rates it a sell, and 6 rate it a hold.
TheStreet Ratings rates
AbbVie
as a
. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full
now.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the drugs industry could consider
(
) while those bearish on the drugs industry could consider
ProShares UltraShort Nasdaq Biotech
(
).