SHPG, REGN And LLY, 3 Drugs Stocks Pushing The Industry Lower

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 62 points (0.4%) at 17,123 as of Wednesday, July 16, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,670 issues advancing vs. 1,271 declining with 202 unchanged.

The Drugs industry currently sits down 0.6% versus the S&P 500, which is up 0.4%. On the negative front, top decliners within the industry include Gilead ( GILD), down 2.4%, Biogen Idec ( BIIB), down 2.0%, Celgene ( CELG), down 0.8% and AbbVie ( ABBV), down 0.6%. A company within the industry that increased today was Sanofi ( SNY), up 0.7%.

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

3. Shire ( SHPG) is one of the companies pushing the Drugs industry lower today. As of noon trading, Shire is down $4.38 (-1.8%) to $245.17 on heavy volume. Thus far, 2.0 million shares of Shire exchanged hands as compared to its average daily volume of 1.0 million shares. The stock has ranged in price between $243.25-$248.25 after having opened the day at $247.81 as compared to the previous trading day's close of $249.55.

Shire plc, a biopharmaceutical company, together with its subsidiaries, researches, develops, licenses, manufactures, markets, distributes, and sells pharmaceutical products. Shire has a market cap of $49.9 billion and is part of the health care sector. Shares are up 76.6% year-to-date as of the close of trading on Tuesday. Currently there are 6 analysts that rate Shire a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Shire as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, notable return on equity, compelling growth in net income and good cash flow from operations. 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 Shire Ratings Report now.

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