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NEW YORK ( TheStreet) -- Salix Pharmaceuticals (Nasdaq: SLXP) hit a new 52-week high Thursday as it is currently trading at $51.95, above its previous 52-week high of $51.42 with 1.1 million shares traded as of 3:55 p.m. ET. Average volume has been 943,200 shares over the past 30 days. Salix has a market cap of $2.73 billion and is part of the health care sector and drugs industry. Shares are up 6.6% year to date as of the close of trading on Wednesday. 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 35.5, above the average drugs industry P/E ratio of 34.8 and above the S&P 500 P/E ratio of 17.7.