3 Drugs Stocks Driving 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 up today with the Dow Jones Industrial Average ( ^DJI) trading up 20 points (0.1%) at 14,984 as of Friday, Aug. 23, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,794 issues advancing vs. 1,149 declining with 104 unchanged.

The Drugs industry currently sits down 0.2% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the industry include Chemocentryx ( CCXI), down 33.8%, and Allergan ( AGN), down 0.9%.

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

3. Novartis ( NVS) is one of the companies pushing the Drugs industry higher today. As of noon trading, Novartis is up $0.49 (0.7%) to $75.23 on average volume. Thus far, 689,570 shares of Novartis exchanged hands as compared to its average daily volume of 1.5 million shares. The stock has ranged in price between $74.82-$75.49 after having opened the day at $74.90 as compared to the previous trading day's close of $74.74.

Novartis AG engages in the research, development, manufacture, and marketing of a range of healthcare products worldwide. Novartis has a market cap of $181.7 billion and is part of the health care sector. Shares are up 17.3% year to date as of the close of trading on Thursday. Currently there are 6 analysts that rate Novartis a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Novartis as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Novartis Ratings Report now.

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2. As of noon trading, Questcor Pharmaceuticals ( QCOR) is up $3.88 (5.7%) to $72.31 on average volume. Thus far, 1.2 million shares of Questcor Pharmaceuticals exchanged hands as compared to its average daily volume of 2.0 million shares. The stock has ranged in price between $68.47-$72.43 after having opened the day at $68.54 as compared to the previous trading day's close of $68.43.

Questcor Pharmaceuticals, Inc., a biopharmaceutical company, provides drugs for the treatment of multiple sclerosis, nephrotic syndrome, and infantile spasms indications. It primarily offers H.P. Questcor Pharmaceuticals has a market cap of $4.1 billion and is part of the health care sector. Shares are up 153.9% year to date as of the close of trading on Thursday. Currently there are 6 analysts that rate Questcor Pharmaceuticals a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates Questcor Pharmaceuticals as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Questcor Pharmaceuticals Ratings Report now.

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1. As of noon trading, Bristol-Myers Squibb Company ( BMY) is up $0.46 (1.1%) to $42.12 on light volume. Thus far, 3.1 million shares of Bristol-Myers Squibb Company exchanged hands as compared to its average daily volume of 8.9 million shares. The stock has ranged in price between $41.67-$42.28 after having opened the day at $41.76 as compared to the previous trading day's close of $41.66.

Bristol-Myers Squibb Company, a biopharmaceutical company, discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products that help patients prevail over serious diseases worldwide. Bristol-Myers Squibb Company has a market cap of $68.0 billion and is part of the health care sector. Shares are up 26.8% year to date as of the close of trading on Thursday. Currently there are 6 analysts that rate Bristol-Myers Squibb Company a buy, 1 analyst rates it a sell, and 12 rate it a hold.

TheStreet Ratings rates Bristol-Myers Squibb Company as a buy. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Bristol-Myers Squibb Company Ratings Report now.

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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).
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