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 37 points (0.2%) at 16,943 as of Wednesday, July 9, 2014, 12:45 PM ET. The NYSE advances/declines ratio sits at 1,468 issues advancing vs. 1,471 declining with 161 unchanged.

The Drugs industry currently sits up 0.3% versus the S&P 500, which is up 0.3%. Top gainers within the industry include Alexion Pharmaceuticals ( ALXN), up 2.2%, Vertex Pharmaceuticals ( VRTX), up 1.8%, Sanofi ( SNY), up 0.8% and GlaxoSmithKline ( GSK), up 0.6%.

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

3. Celgene ( CELG) is one of the companies pushing the Drugs industry higher today. As of noon trading, Celgene is up $1.50 (1.8%) to $87.22 on heavy volume. Thus far, 4.5 million shares of Celgene exchanged hands as compared to its average daily volume of 5.3 million shares. The stock has ranged in price between $83.98-$87.50 after having opened the day at $84.39 as compared to the previous trading day's close of $85.72.

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies to treat cancer and immune-inflammatory related diseases in the United States and internationally. Celgene has a market cap of $71.2 billion and is part of the health care sector. Shares are up 1.5% year-to-date as of the close of trading on Tuesday. Currently there are 19 analysts who rate Celgene a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Celgene as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, robust revenue growth, notable return on equity, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Celgene Ratings Report now.

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