NEW YORK ( TheStreet) -- Shares of Cardiome Pharma Corp (Nasdaq: CRME) have taken a tremendous swing upward. The stock is trading at $5.30 as of 3:51 p.m. ET, 20.2% above Tuesday's closing price of $4.41. Volume is at 1.1 million, 4.8 times the daily average of 231,600.

Cardiome has a market cap of $271.4 million and is part of the health care sector and drugs industry. Shares are down 31.3% year to date as of the close of trading on Tuesday.

Cardiome Pharma Corp., a life sciences company, focuses on developing drugs to treat or prevent cardiovascular diseases. The company has a P/E ratio of 7.7, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 16.7.

TheStreet Ratings rates Cardiome 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, notable return on equity and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and a generally disappointing performance in the stock itself. You can view the full Cardiome Ratings Report.

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