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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Forest Laboratories (NYSE: FRX) hit a new 52-week high Thursday as it is currently trading at $37.51, above its previous 52-week high of $37.31 with 391,269 shares traded as of 9:46 a.m. ET. Average volume has been two million shares over the past 30 days. Forest has a market cap of $9.58 billion and is part of the health care sector and drugs industry. Shares are up 19.1% year to date as of the close of trading on Wednesday. Forest Laboratories, Inc. develops, manufactures, and sells branded forms of ethical drug products primarily in the United States and Europe. The company has a P/E ratio of 12.5, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 17.7.