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NEW YORK ( TheStreet) -- Biogen Idec (Nasdaq: BIIB) hit a new 52-week high Tuesday as it is currently trading at $128.18, above its previous 52-week high of $127.93 with 240,226 shares traded as of 11:05 a.m. ET. Average volume has been 1.6 million shares over the past 30 days. Biogen Idec has a market cap of $28.43 billion and is part of the health care sector and drugs industry. Shares are up 16% year to date as of the close of trading on Monday. Biogen Idec Inc. discovers, develops, manufactures, and markets therapies for the treatment of neurodegenerative diseases, hemophilia, and autoimmune disorders in the United States and internationally. The company has a P/E ratio of 25, above the average drugs industry P/E ratio of 24.4 and above the S&P 500 P/E ratio of 17.7.