NEW YORK (

TheStreet

) --

Salix Pharmaceuticals

(Nasdaq:

SLXP

) hit a new 52-week high Tuesday as it is currently trading at $50.34, above its previous 52-week high of $50.28 with one million shares traded as of 11:10 a.m. ET. Average volume has been 943,200 shares over the past 30 days.

Salix has a market cap of $2.73 billion and is part of the

health care

sector and

drugs

industry. Shares are down 3.6% year to date as of the close of trading on Monday.

Salix Pharmaceuticals, Ltd., a specialty pharmaceutical company, engages in acquiring, developing, and commercializing prescription drugs for the treatment of gastrointestinal disorders in the United States. The company has a P/E ratio of 34.9, above the average drugs industry P/E ratio of 34.8 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Salix as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full

Salix Ratings Report

.

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