NEW YORK ( TheStreet) -- Cubist Pharmaceuticals (Nasdaq: CBST) is trading at unusually high volume Thursday with 4.7 million shares changing hands. It is currently at four times its average daily volume and trading up $2.37 (+6.5%) at $38.79 as of 12:10 p.m. ET.

Cubist has a market cap of $2.3 billion and is part of the health care sector and drugs industry. Shares are up 73.2% year to date as of the close of trading on Wednesday.

Cubist Pharmaceuticals, Inc., a biopharmaceutical company, focuses on the research, development, and commercialization of pharmaceutical products that address unmet medical needs in the acute care environment. The company has a P/E ratio of 47.5, below the average drugs industry P/E ratio of 48.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cubist as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Cubist 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.