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.

One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading down 29 points (-0.2%) at 16,367 as of Wednesday, March 5, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 1,229 issues advancing vs. 1,681 declining with 174 unchanged.

The Drugs industry currently sits up 0.2% versus the S&P 500, which is unchanged. Top gainers within the industry include Arrowhead Research Corporation ( ARWR), up 23.8%, Teva Pharmaceutical Industries ( TEVA), up 1.0% and Novartis ( NVS), up 0.8%. On the negative front, top decliners within the industry include XOMA ( XOMA), down 26.1%, Endo International ( ENDP), down 3.6%, Jazz Pharmaceuticals ( JAZZ), down 2.3%, Biomarin Pharmaceutical ( BMRN), down 1.8% and Shire ( SHPG), down 1.4%.

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

3. Amgen ( AMGN) is one of the companies pushing the Drugs industry higher today. As of noon trading, Amgen is up $0.84 (0.7%) to $126.84 on light volume. Thus far, 1.1 million shares of Amgen exchanged hands as compared to its average daily volume of 3.3 million shares. The stock has ranged in price between $125.39-$127.15 after having opened the day at $126.18 as compared to the previous trading day's close of $126.00.

Amgen Inc., a biotechnology company, discovers, develops, manufactures, and delivers human therapeutics in the areas of oncology, hematology, inflammation, bone health, nephrology, cardiovascular, and general medicine worldwide. Amgen has a market cap of $93.4 billion and is part of the health care sector. Shares are up 8.4% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts who rate Amgen a buy, no analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates Amgen as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Amgen Ratings Report now.

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