NEW YORK ( TheStreet) -- Shares of Columbia Laboratories (Nasdaq: CBRX) were gapping up Wednesday morning with an open price 10.9% higher than Tuesday's closing price. The stock closed at $1.10 Tuesday and opened today's trading at $1.22. The average volume for Columbia has been 591,100 shares per day over the past 30 days. Columbia has a market cap of $209.4 million and is part of the health care sector and drugs industry. Shares are down 56.2% year to date as of the close of trading on Tuesday. Columbia Laboratories, Inc. engages in the research, development, and commercialization of women's healthcare and endocrinology products. It develops products by utilizing its bioadhesive drug delivery technologies. The company has a P/E ratio of 17.1, below the average drugs industry P/E ratio of 30 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Columbia as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity, good cash flow from operations and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and premium valuation. You can view the full Columbia 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.