3 Drugs Stocks Pushing The Industry Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 55 points (-0.4%) at 14,948 as of Wednesday, Aug. 21, 2013, 12:49 PM ET. The NYSE advances/declines ratio sits at 846 issues advancing vs. 2,101 declining with 78 unchanged.

The Drugs industry currently sits down 0.1% versus the S&P 500, which is down 0.4%. On the negative front, top decliners within the industry include Sanofi ( SNY), down 2.1%, Novo Nordisk A/S ( NVO), down 0.8%, AstraZeneca ( AZN), down 0.7% and Novartis ( NVS), down 0.5%.

TheStreet would like to highlight 3 stocks pushing the industry higher today:

3. Incyte ( INCY) is one of the companies pushing the Drugs industry higher today. As of noon trading, Incyte is up $7.80 (28.9%) to $34.80 on heavy volume. Thus far, 10.3 million shares of Incyte exchanged hands as compared to its average daily volume of 1.2 million shares. The stock has ranged in price between $32.95-$34.98 after having opened the day at $33.03 as compared to the previous trading day's close of $27.00.

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary small molecule drugs for oncology and inflammation. Incyte has a market cap of $4.1 billion and is part of the health care sector. Shares are up 62.6% year to date as of the close of trading on Tuesday. Currently there are 12 analysts that rate Incyte a buy, 1 analyst rates it a sell, and 2 rate it a hold.

TheStreet Ratings rates Incyte as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, poor profit margins, weak operating cash flow and feeble growth in its earnings per share. Get the full Incyte Ratings Report now.

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