Salix Pharmaceuticals (Nasdaq:SLXP) is trading at unusually high volume Tuesday with 3.9 million shares changing hands. It is currently at 4.2 times its average daily volume and trading up $1.76 (+3.6%).
NEW YORK ( TheStreet) -- Salix Pharmaceuticals (Nasdaq: SLXP) is trading at unusually high volume Tuesday with 3.9 million shares changing hands. It is currently at 4.2 times its average daily volume and trading up $1.76 (+3.6%) at $50.51 as of 3:25 p.m. ET. Salix has a market cap of $2.73 billion and is part of the health care sector and drugs industry. Shares are up 1.9% year to date as of the close of trading on Monday. Salix Pharmaceuticals, Ltd., a specialty pharmaceutical company, engages in acquiring, developing, and commercializing prescription drugs for the treatment of gastrointestinal disorders in the United States. The company has a P/E ratio of 34.2, below the average drugs industry P/E ratio of 34.8 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Salix as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Salix Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.