3 Drugs Stocks Nudging 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 34 points (0.2%) at 16,585 as of Friday, May 9, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,493 issues advancing vs. 1,448 declining with 155 unchanged.

The Drugs industry currently sits up 1.0% versus the S&P 500, which is up 0.1%. Top gainers within the industry include Alexion Pharmaceuticals ( ALXN), up 1.5%, Celgene ( CELG), up 1.2%, Gilead ( GILD), up 1.1%, Merck ( MRK), up 0.9% and Novo Nordisk A/S ( NVO), up 0.7%. On the negative front, top decliners within the industry include Mylan ( MYL), down 2.6%, AstraZeneca ( AZN), down 2.1%, Shire ( SHPG), down 1.3%, Teva Pharmaceutical Industries ( TEVA), down 0.9% and AbbVie ( ABBV), down 1.0%.

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 $1.81 (3.6%) to $52.19 on light volume. Thus far, 540,663 shares of Incyte exchanged hands as compared to its average daily volume of 2.3 million shares. The stock has ranged in price between $49.64-$52.19 after having opened the day at $50.19 as compared to the previous trading day's close of $50.38.

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary small molecule drugs primarily for oncology and inflammation. Incyte has a market cap of $8.7 billion and is part of the health care sector. Shares are down 0.5% year-to-date as of the close of trading on Thursday. Currently there are 12 analysts who rate Incyte a buy, 1 analyst rates it a sell, and 1 rates it a hold.

TheStreet Ratings rates Incyte as a sell. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share and deteriorating net income. Get the full Incyte Ratings Report now.

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