NEW YORK ( TheStreet) -- Onyx Pharmaceuticals (Nasdaq: ONXX) is trading at unusually high volume Wednesday with 3.6 million shares changing hands. It is currently at four times its average daily volume and trading up $2.79 (+8.7%) at $34.70 as of 1:46 p.m. ET.

Onyx has a market cap of $2.1 billion and is part of the health care sector and drugs industry. Shares are down 13.5% year to date as of the close of trading on Tuesday.

Onyx Pharmaceuticals, Inc., a biopharmaceutical company, engages in developing therapies targeting the molecular mechanisms causing cancer in the United States and internationally.

TheStreet Ratings rates Onyx as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Onyx Ratings Report.

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

Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.