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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) -- Amgen (Nasdaq: AMGN) hit a new 52-week high Wednesday as it is currently trading at $106.86, above its previous 52-week high of $106.79 with 1.7 million shares traded as of 11:45 a.m. ET. Average volume has been 5.8 million shares over the past 30 days. Amgen has a market cap of $78.66 billion and is part of the health care sector and drugs industry. Shares are up 21% year to date as of the close of trading on Tuesday. Amgen Inc., a biotechnology medicines company, engages in the discovery, development, manufacture, and marketing of human therapeutic products in the areas of supportive cancer care, inflammation, nephrology, and bone diseases primarily in the United States, Europe, and Canada. The company has a P/E ratio of 19, above the S&P 500 P/E ratio of 17.7.