AMGN, VRX And AGN, Pushing Drugs Industry Downward

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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 lower today:

3. Amgen ( AMGN) is one of the companies pushing the Drugs industry lower today. As of noon trading, Amgen is down $0.65 (-0.5%) to $119.31 on average volume. Thus far, 1.3 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 $118.92-$120.62 after having opened the day at $120.45 as compared to the previous trading day's close of $119.96.

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 $91.0 billion and is part of the health care sector. Shares are up 5.2% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts that rate Amgen a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Amgen as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels, good cash flow from operations, solid stock price performance 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 Amgen Ratings Report now.

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