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NEW YORK ( TheStreet) -- Cubist Pharmaceuticals (Nasdaq: CBST) hit a new 52-week high Friday as it is currently trading at $40.39, above its previous 52-week high of $40.24 with 584,944 shares traded as of 12:45 p.m. ET. Average volume has been 1.2 million shares over the past 30 days. Cubist has a market cap of $2.2 billion and is part of the health care sector and drugs industry. Shares are up 70.2% year to date as of the close of trading on Thursday. 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 25.5, below the average drugs industry P/E ratio of 47.9 and above the S&P 500 P/E ratio of 17.7.