NEW YORK ( TheStreet) -- Shares of Transcept Pharmaceuticals (Nasdaq: TSPT) were gapping down Thursday morning with an open price 12.7% lower than Wednesday's closing price. The stock closed at $11 Wednesday and opened today's trading at $9.60. The average volume for Transcept has been 151,100 shares per day over the past 30 days. Transcept has a market cap of $152.6 million and is part of the health care sector and drugs industry. Shares are up 40.5% year to date as of the close of trading on Wednesday. Transcept Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on the development and commercialization of proprietary products that address therapeutic needs in the field of neuroscience. TheStreet Ratings rates Transcept 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 solid stock price performance. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good. You can view the full Transcept Ratings Report. Get more investment ideas from our investment research center.