Salix Rises On Unusually High Volume (SLXP)

NEW YORK ( TheStreet) -- Salix Pharmaceuticals (Nasdaq: SLXP) is trading at unusually high volume Friday with 3.3 million shares changing hands. It is currently at four times its average daily volume and trading up $1.61 (+5.1%) at $33.22 as of 1:26 p.m. ET.

Salix has a market cap of $2.4 billion and is part of the health care sector and drugs industry. Shares are down 32.7% year to date as of the close of trading on Thursday.

Salix Pharmaceuticals, Ltd. acquires, develops, and commercializes prescription drugs for the treatment of gastrointestinal disorders in the United States.

TheStreet Ratings rates Salix as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and growth in earnings per share. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Salix Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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