NEW YORK ( TheStreet) -- Shares of Alexza Pharmaceuticals (Nasdaq: ALXA) were gapping down Friday morning with an open price 31.4% lower than Thursday's closing price. The stock closed at 70 cents Thursday and opened today's trading at 48 cents. The average volume for Alexza has been 1.1 million shares per day over the past 30 days. Alexza has a market cap of $51.9 million and is part of the health care sector and drugs industry. Shares are down 12.9% 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 72 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 and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and a generally disappointing performance in the stock itself. You can view the full Alexza Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.