3 Stocks Driving The Drugs Industry Higher

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 13 points (0.1%) at 16,507 as of Monday, Aug. 4, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,334 issues advancing vs. 1,665 declining with 161 unchanged.

The Drugs industry currently is unchanged today versus the S&P 500, which is up 0.2%. Top gainers within the industry include NPS Pharmaceuticals ( NPSP), up 5.5%, Biomarin Pharmaceutical ( BMRN), up 2.0%, Grifols ( GRFS), up 1.5%, Eli Lilly and ( LLY), up 0.8% and AbbVie ( ABBV), up 0.5%. On the negative front, top decliners within the industry include Herbalife ( HLF), down 4.2%, Endo International ( ENDP), down 2.4%, Jazz Pharmaceuticals ( JAZZ), down 2.2%, Teva Pharmaceutical Industries ( TEVA), down 1.7% and Perrigo ( PRGO), down 1.5%.

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

3. Amgen ( AMGN) is one of the companies pushing the Drugs industry higher today. As of noon trading, Amgen is up $1.42 (1.1%) to $126.97 on heavy volume. Thus far, 3.5 million shares of Amgen exchanged hands as compared to its average daily volume of 3.0 million shares. The stock has ranged in price between $126.52-$129.30 after having opened the day at $129.00 as compared to the previous trading day's close of $125.55.

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 $96.4 billion and is part of the health care sector. Shares are up 10.1% year-to-date as of the close of trading on Friday. Currently there are 8 analysts who rate Amgen a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Amgen as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Amgen Ratings Report now.

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