NEW YORK ( TheStreet) -- Shares of Alexza Pharmaceuticals (Nasdaq: ALXA) have taken a tremendous swing upward. The stock is trading at 63 cents as of 1:20 p.m. ET, 21.1% above Thursday's closing price of 52 cents. Volume is at 2.2 million, 5.6 times the daily average of 402,600.

Alexza has a market cap of $71.4 million and is part of the health care sector and drugs industry. Shares are down 20.8% year to date as of the close of trading on Thursday.

Alexza Pharmaceuticals, Inc., a development stage company, focuses on the research, development, and commercialization of novel proprietary products for the acute treatment of central nervous system conditions. The company has a P/E ratio of 6.8, below the average drugs industry P/E ratio of 99 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Alexza as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company's earnings per share. You can view the full Alexza Ratings Report.

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