NEW YORK ( TheStreet) -- Shares of Salix Pharmaceuticals (Nasdaq: SLXP) were gapping up Thursday morning with an open price 10.6% higher than Wednesday's closing price. The stock closed at $33.90 Wednesday and opened today's trading at $37.50. The average volume for Salix has been 977,100 shares per day over the past 30 days. Salix has a market cap of $2 billion and is part of the health care sector and drugs industry. Shares are down 27.8% year to date as of the close of trading on Wednesday. Salix Pharmaceuticals, Ltd. acquires, develops, and commercializes prescription drugs for the treatment of gastrointestinal disorders in the United States. The company has a P/E ratio of 25.7, above the average drugs industry P/E ratio of 25.5 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Salix as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Salix Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.