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.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

2. As of noon trading, Biogen Idec ( BIIB) is up $1.06 (0.5%) to $207.61 on light volume. Thus far, 365,653 shares of Biogen Idec exchanged hands as compared to its average daily volume of 1.5 million shares. The stock has ranged in price between $203.55-$208.84 after having opened the day at $205.61 as compared to the previous trading day's close of $206.55.

Biogen Idec Inc. discovers, develops, manufactures, and markets therapies for the treatment of neurodegenerative diseases, hemophilia, and autoimmune disorders in the United States and internationally. Biogen Idec has a market cap of $49.2 billion and is part of the health care sector. Shares are up 41.3% year to date as of the close of trading on Tuesday. Currently there are 12 analysts that rate Biogen Idec a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Biogen Idec as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Biogen Idec Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

1. As of noon trading, Gilead ( GILD) is up $0.32 (0.6%) to $58.32 on light volume. Thus far, 2.6 million shares of Gilead exchanged hands as compared to its average daily volume of 9.6 million shares. The stock has ranged in price between $57.43-$58.74 after having opened the day at $57.70 as compared to the previous trading day's close of $58.00.

Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes human therapeutics for the treatment of life threatening diseases in North America, Europe, and Asia. Gilead has a market cap of $87.8 billion and is part of the health care sector. Shares are up 57.9% year to date as of the close of trading on Tuesday. Currently there are 19 analysts that rate Gilead a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Gilead as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, reasonable valuation levels, expanding profit margins and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. Get the full Gilead Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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 SPDR S&P Pharmaceuticals ETF ( XPH) while those bearish on the drugs industry could consider ProShares UltraShort Nasdaq Biotech ( BIS).

null

More from Markets

Verizon Proves Resilient in Sell-Off; Decoding the Facebook Short -- ICYMI

Verizon Proves Resilient in Sell-Off; Decoding the Facebook Short -- ICYMI

Three Big Factors That Rocked the Stock Market Tuesday

Three Big Factors That Rocked the Stock Market Tuesday

Dow Tumbles Over 400 Points; S&P 500 and Nasdaq Also Finish Lower

Dow Tumbles Over 400 Points; S&P 500 and Nasdaq Also Finish Lower

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call

Jim Cramer: If You're Afraid of the 10-Year Yield, Go to Cash

Jim Cramer: If You're Afraid of the 10-Year Yield, Go to Cash