NEW YORK ( TheStreet) -- Shares of Biostar Pharmaceuticals (Nasdaq: BSPM) have taken a tremendous swing upward. The stock is trading at $1 as of 9:39 a.m. ET, 27% above Thursday's closing price of 79 cents. Volume is at 875,524, 12.6 times the daily average of 69,400. Biostar has a market cap of $23.6 million and is part of the health care sector and drugs industry. Shares are up 29% year to date as of the close of trading on Thursday. Biostar Pharmaceuticals, Inc. develops, manufactures, and markets over-the-counter (OTC) and prescription pharmaceutical products, and health supplement products for various diseases and conditions in the People's Republic of China. The company has a P/E ratio of 1.3, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Biostar 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 impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow. You can view the full Biostar Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.