IPXL, HLF And AZN, Pushing Drugs Industry Downward

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 29 points (0.2%) at 17,012 as of Tuesday, July 29, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,550 issues advancing vs. 1,408 declining with 169 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 Pharmacyclics ( PCYC), up 11.9%, United Therapeutics ( UTHR), up 7.5%, Regeneron Pharmaceuticals ( REGN), up 1.2%, Sanofi ( SNY), up 1.0% and Novo Nordisk A/S ( NVO), up 0.8%.

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

3. Impax Laboratories ( IPXL) is one of the companies pushing the Drugs industry lower today. As of noon trading, Impax Laboratories is down $4.21 (-15.0%) to $23.82 on heavy volume. Thus far, 2.3 million shares of Impax Laboratories exchanged hands as compared to its average daily volume of 618,200 shares. The stock has ranged in price between $23.26-$24.11 after having opened the day at $23.43 as compared to the previous trading day's close of $28.03.

Impax Laboratories, Inc., a specialty pharmaceutical company, develops, manufactures, and markets bioequivalent pharmaceutical products; and develops and markets branded products. The company operates through two segments, Global Pharmaceuticals Division and Impax Pharmaceutical Division. Impax Laboratories has a market cap of $2.0 billion and is part of the health care sector. Shares are up 11.5% year-to-date as of the close of trading on Monday. Currently there is 1 analyst that rates Impax Laboratories a buy, 2 analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Impax Laboratories as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow. Get the full Impax Laboratories Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Impax Shares Jump on Merger Buzz

Impax Shares Jump After Chinese Firm Reveals 5% Stake

Teva, Mylan Seen to Stay on M&A Sidelines

Teva's Massive Debt Load Just Became an Even Bigger Issue

Teva Shares Are Getting Obliterated Again After Vicious Investment Bank Downgrades