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) -- Celgene Corporation (Nasdaq: CELG) hit a new 52-week high Friday as it is currently trading at $80.69, above its previous 52-week high of $80.42 with 492,928 shares traded as of 10 a.m. ET. Average volume has been 2.8 million shares over the past 30 days. Celgene has a market cap of $34.08 billion and is part of the health care sector and drugs industry. Shares are up 17.7% year to date as of the close of trading on Thursday. Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes various therapies to treat cancer and immune-inflammatory related diseases primarily in the United States and Europe. The company has a P/E ratio of 23, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Celgene as a buy. 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, notable return on equity, reasonable valuation levels and increase in stock price during the past year. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Celgene Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center. FREE from Real Money's Jim Cramer: Winners and Losers Election 2012 - Steps to take NOW so you can profit no matter who is in charge! Free download now.