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.
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 52-week high stocks or get investment ideas from our investment research center.