NEW YORK ( TheStreet) -- Shares of Targacept (Nasdaq: TRGT) were gapping down Tuesday morning with an open price 26% lower than Monday's closing price. The stock closed at $7.78 Monday and opened today's trading at $5.76.

The average volume for Targacept has been 877,500 shares per day over the past 30 days. Targacept has a market cap of $260.1 million and is part of the health care sector and drugs industry. Shares are down 70.6% year to date as of the close of trading on Monday.

Targacept, Inc., a biopharmaceutical company, engages in the design, discovery, and development of novel Neuronal Nicotinic Receptors (NNR) Therapeutics for the treatment of diseases and disorders of the nervous system.

TheStreet Ratings rates Targacept as a sell. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share. You can view the full Targacept Ratings Report.

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