3 Stocks Advancing The Drugs Industry

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 lower today with the Dow Jones Industrial Average ( ^DJI) trading up 16 points (0.1%) at 16,733 as of Monday, June 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,394 issues advancing vs. 1,564 declining with 187 unchanged.

The Drugs industry currently sits down 1.4% versus the S&P 500, which is unchanged. Top gainers within the industry include NPS Pharmaceuticals ( NPSP), up 9.2%, and Teva Pharmaceutical Industries ( TEVA), up 2.6%. On the negative front, top decliners within the industry include Grifols ( GRFS), down 2.5%, Biogen Idec ( BIIB), down 0.8%, Sanofi ( SNY), down 0.7% and Abbott Laboratories ( ABT), down 0.6%.

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

3. Allergan ( AGN) is one of the companies pushing the Drugs industry higher today. As of noon trading, Allergan is up $2.99 (1.8%) to $170.45 on heavy volume. Thus far, 4.9 million shares of Allergan exchanged hands as compared to its average daily volume of 4.4 million shares. The stock has ranged in price between $168.62-$171.65 after having opened the day at $169.20 as compared to the previous trading day's close of $167.46.

Allergan, Inc. operates as a multi-specialty health care company primarily in the United States, Europe, Latin America, and the Asia Pacific. Allergan has a market cap of $47.2 billion and is part of the health care sector. Shares are up 50.8% year-to-date as of the close of trading on Friday. Currently there are 6 analysts who rate Allergan a buy, 1 analyst rates it a sell, and 7 rate it a hold.

TheStreet Ratings rates Allergan 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, compelling growth in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Allergan Ratings Report now.

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