Three men are currently in the hospital, ages 18, 19, and 20.
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Police say they discovered the 18-year-old victim Saturday just before 6 p.m. at Glenloch and Pratt streets.
He was shot multiple times, including two bullets to the chest.
"Based on the information from the victims, however, it appears that there were multiple shooters," said Inspector D.F. Pace of the Philadelphia Police Department. "This looks like it was a prearranged meeting at this location."
For police, securing the crime scene was a race against time, as incredibly strong winds threatened to move the 18 shell casings found in the street.
"We believe the motive for the shooting is drug-related," said Pace. "The victims are known to police, and it appears that it is a drug deal gone bad."
Officials say they discovered two other victims were taken by private car to local hospitals and are in stable condition.
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The 18-year-old victim, who was listed extremely critical, is now in stable condition.
"We're doing everything we possibly can as far as making sure that our investigators follow up on every lead, conduct the investigations as thoroughly as possible to be able to identify who the shooters are as well as make sure they're brought to justice," added Pace.
Police are still searching for local surveillance video that may have captured the incident.
So far, no arrests have been made.